Novartis Australia welcomes the Turnbull Government’s continued budget commitment to medical innovation and research
Sydney, May 11, 2018
Novartis is encouraged that Turnbull Government continues to invest in the PBS, providing Australian patients access to the latest innovations in medicine.
Brian Gladsden, Country President said, “This is good news for Australian patients and is significant investment for the Government. We welcome Minister Hunt’s ongoing commitment to fund new medicines recommended by the PBAC, and particularly his constructive and collaborative approach to identifying the $1bn provision for future listings. This will provide greater certainty for patients awaiting outcomes from future PBAC meetings,” concluded Mr Gladsden.
In addition to the announcement regarding the PBS, Novartis welcomes $6 billion of budget measures that support Australian medical research, and particularly those measures that improve the local environment for clinical trials. Novartis is the largest pharmaceutical investor in Australian clinical trials, with 2,300 patients in over 200 trial sites around the country. Mr Gladsden commented, “The Government’s strong commitment to ensuring Australia is a good place to conduct trials means that Australian patients have a greater chance to access the latest medicines in a safe and affordable clinical environment.”
Related to clinical trials, Novartis supports the budget announcement from the Home Affairs portfolio, to remove any import duty on placebos for clinical trials. Removing this cost contributes to making Australia a more competitive environment for clinical trials.
Novartis acknowledges the rising costs of healthcare for governments around the world, largely due to people living longer lives. As the health budget grows, continued and sustainable growth in the PBS is critical to ensure patients get access to the best global innovation in medicine. Investment in research and development, particularly by the pharmaceutical industry has identified innovations in medicine that bend the curve of life. Novartis alone invests almost USD$10bn each year into R&D, and the resulting transformative innovation is ultimately what makes people live longer, drives our business, so we can reinvest for the benefit of future patients.
We look forward to continuing our positive relationship with the Government and bureaucracy to ensure we can together extend and improve the lives of Australian patients.
Novartis provides innovative healthcare solutions that address the evolving needs of patients and societies. Headquartered in Basel, Switzerland, Novartis offers a diversified portfolio to best meet these needs: innovative medicines, cost-saving generic and biosimilar pharmaceuticals and eye care. Novartis has leading positions globally in each of these areas. Novartis has more than 60 years’ history in Australia and employ around 800 associates across our three divisions. In 2017, the Group achieved net sales of USD 49.1 billion, while R&D throughout the Group amounted to approximately USD 9.0 billion. Novartis Group companies employ approximately 122,000 full-time-equivalent associates. Novartis products are sold in approximately 155 countries around the world. For more information, please visit www.novartis.com.au
Novartis Australia/NZ Media Contact:
Director, Public Affairs and Communications
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