Medicines Australia (MA) welcomes the announcement by Minister for Health Greg Hunt on the MOU between Australia and the Texas Medical Centre (TMC).
MA CEO Liz de Somer said: “The historic partnership will enable Australian medical researchers to extend their knowledge at the world’s largest children’s and cancer hospital.
“The experience that this will provide Australian medical researchers in emerging fields like genomics, will undoubtedly translate to knowledge sharing back to Australia,” she said.
“Knowledge sharing is a critical element of success for the innovative pharmaceutical industry in Australia. We are a global sector, and by tapping into international resources, we develop the skills of the Australian workforce, boost the economy and provide up and downstream linkages to other sectors.
“A recent report commissioned by the Association of Australian Medical Research Institute found that for every dollar invested in medical research, $3.90 is returned to the Australian economy.
“This astronomical return on investment is tangible proof that focusing on the research capabilities of Australian scientists – like the MOU with the TMC – will pay dividends.
“Most importantly however, international alliances like the MOU with the TMC, help to deliver new medicines to Australians faster through faster access, and more clinical trials.
“I commend the Government’s commitment to ensuring Australia remains a global leader in scientific innovation,” said Ms de Somer.