Posted by Michael Wonder on 06 Jun 2018
Big pharma wants to invest more in Australian biotech says Greg Hunt
6 June 2018 - Big pharma is "looking at Australia as the next destination in the developed world, the emerging first-world opportunity," Greg Hunt says.
Big US pharmaceuticals companies such as Johnson & Johnson, Pfizer, Merck, AbbVie and Eli Lilly want to invest more in Australia as a result of the Turnbull government's efforts to stimulate the medical tech and biotech sectors, Health Minister Greg Hunt has said.
Mr Hunt said the increased interest was the result of the government's cumulative efforts over several years to turn more of Australia's world-leading medical and pharmaceuticals research into commercial products, starting with the establishment of the $20 billion Medical Research Future fund in the 2014 budget.
