AusTrade’s latest Clinical Trials Capability Report has some interesting facts n figures
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
- Between 2012 and 2015, phase I activity has grown by 17.2% in Australia, compared to 1.8% globally
In early phase clinical trials, Australia is 28% cheaper than the USA, and 60% cheaper after tax incentives (Australia: Preferred Destination for Early Phase Clinical Trials. Frost & Sullivan White Paper 2016)
Top 5 indications are (in order): Pain | Non-small cell Lung Ca | Type II Diabetes | Solid tumours | Hep. C
The Australian government invests ~$3 billion per year in supporting medical research and funding the NHMRC’s initiatives (Research Australia. Australian H&MR Facts. January 21, 2016)
Phase 0 – III (pre-market) clinical trials are eligible for R&D Tax incentive of 43% refundable tax credit [annual turnover <$20 million] and 38.5% non refundable tax credit on eligible R&D expenditure for companies with annual turnover >$20 million (Dept. Industry, Innovation and Science. Research and development Tax incentive)
Australia’s IP system is secure and ranks 12th / 128, ahead of the systems in the UK, USA and Germany (www.mtpconnect.org.au)
The World Bank currently ranks Australia #15 out of 190 countries in the world in terms of ease of doing business (www.doingbusiness.org/data/exploreeconomies/australia)
