With the beginning of 2022, the pace picking up after the summer break, and the realities of our respective New Year's resolutions settling upon us, AusBiotech starts the year with a recharged focus on leadership in policy and a resolution to continue committed advocacy for innovation in life sciences.
The time is right to list AusBiotech's New Year's resolutions, which will buoy and grow the Australian biotechnology industry, support your success and ensure the year ahead is biotech's best one yet.
New Year's resolution one: Championing advocacy. AusBiotech will champion advocacy and be recognised as a persuasive, credible and collaborative voice of leadership for Australia's life sciences industry.
On the radar for Q1:
- Federal Election: This year Australia will see a Federal Election taking place; whatever the outcome, with a new Health Minister on the horizon after 2021's announcement that the Hon. Greg Hunt will not seek reelection.
- Clinical trials 'One Stop Shop' consultation – AusBiotech and its Clinical Trials Advisory Group and the joint Medicines Australia, AusBiotech and MTAA R&D Task Force committees met with the Australian Commission on Safety and Quality in Healthcare in December 2021 to contribute to phase one of the long-awaited consultation. Phase two is expected to kick off in Q1 2022, and AusBiotech looks forward to continuing to be the voice of industry.
- TRIPS Waiver on IP related to vaccines – A new date has yet to be set for the WTO's Ministerial Conference, after the Omicron strain of COVID-19 led several governments to impose travel restrictions that would have prevented many ministers from reaching Geneva last November. AusBiotech does not support the proposed patent waiver, which is a form of forced technology transfer or compulsory acquisition of intellectual property that would undermine the global vaccination effort rather than strengthen it. As the global discussions continue, AusBiotech continues to represent Australia at a global level on the International Council of Biotechnology Associations, and collaborate with Medicines Australia on this important policy issue, and remains connected with DFAT and IP Australia.
- Patent Box – no news has been published on the progress of the Australian Patent Box since the consualtion of August 2021. The policy was announced in the May 2021 Federal Budget. AusBiotech continues to promote the benefit of end-to-end tax incentives, and looks forward to working with Treasury on the design of the incentive, which will be critical if the incentive is to achieve its full potential and enable industry to locate high-value jobs, manufacturing, exports and economic benefits in Australia, rather than sending the benefits of innovative to more competitive jurisdictions.
New Year's resolution two: Focusing on growth. Save the dates in your diary for AusBiotech's key events .
Coinciding with the virtual JP Morgan 2022 week, AusBiotech reached out to the world and delivered two great events to connect Australian innovation with the global market. Attended by industry and investors, AusBiotech illustrated the globally-recognised strength of the Australian life sciences sector. The distinct perspectives highlight State initiatives and programmes, and Australia's cross-border relationships, investment opportunities, and research, clinical trial and regulatory capabilities. Re-watch on demand here.
In an always-busy week, these dedicated events were an important opportunity to engage with global life science decision makers, for collaboration and partnerships, and for investment discussions.
AusBiotech's 2022 events programme is being developed, and includes in person and virtual event opportunities. Save the dates below, and keep an eye on the AusBiotech website as the year progresses.
- Watch two great events that took place during JP Morgan 2022 week and connected international biotech with Australia's thriving biotechnology community: Watch on demand: Australian showcase: Clinical trials and medical innovation advantages, and AusBiotech Pitch.
