Posted by Michael Wonder on 18 Apr 2017
Peak bodies unite against threat to commercialisation of Australian medical research
18 April 2017 - AusBiotech has joined fellow organisations - Research Australia, Medicines Australia, Medical Technologies Association of Australia and BioMelbourne Network – in a joint statement urging the Federal Government not to devastate Australia’s most innovative industry by gutting the Research & Development Tax Incentive.
The statement says that the commercialisation of Australian medical research is under serious threat if the package of measures put by the ‘Ferris, Finkel, Fraser’ Review of the R&D Tax Incentive is adopted.
The changes proposed, especially the $2 million cap and the ‘intensity threshold’, will have significant, disproportionate and negative impact on Australia’s medical technology, biotechnology, and pharmaceutical (MTP) sector.
