Australia’s life sciences sector has welcomed a major national push to strengthen research, development and innovation, with industry leaders urging coordinated government action to secure the country’s economic and health future.
Medicines Australia and AusBiotech have endorsed the release of the 'Ambitious Australia: Strategic Examination of R&D Final Report', describing it as a significant step toward boosting Australia’s innovation capability and encouraging greater risk-taking in national investment decisions.
The report outlines a plan to drive future innovation investment and address longstanding structural challenges in Australia’s research and development ecosystem. Industry leaders say the findings acknowledge the need for systemic reform if the nation is to move beyond relying on good fortune for economic success.
“For too long Australia has traded on being ‘the lucky country’ and Ambitious Australia acknowledges that long-term systemic reforms are needed to support Research, Development and Innovation (RD&I) and create sustainable economic growth for future generations,” the organisations said.
Central to the report’s recommendations is the creation of stronger governance structures to guide national innovation policy. Medicines Australia Chief Executive Officer Liz de Somer said the industry strongly supports the proposal to establish a National Innovation Council reporting directly to senior federal leadership.
“Medicines Australia and AusBiotech support the Report’s first recommendation to establish a National Innovation Council reporting directly to the Prime Minister, and the Minister for Industry and Innovation and Minister for Science. Buy-in from the top is critical to drive national RD&I effort and achieve investment that improves the productive capacity of Australia’s economy,” de Somer said.
The life sciences sector has been highlighted in the report as a key pillar of national innovation, a designation industry groups say reflects the growing importance of health and medical research to Australia’s prosperity and security.
AusBiotech Chief Executive Officer Rebekah Cassidy said recognising the sector as central to the nation’s innovation agenda would help build stronger partnerships between government and industry.
“Placing the health and medical sector as central to an Ambitious Australia through its designation as a key national innovation pillar is central to cementing the whole of government focus and partnership with industry that we have been advocating for,” Cassidy said. “It is a critical precursor to driving the scale-up growth, productivity and health security outcomes we know are possible across our thriving health and medical life sciences ecosystem.”
Both organisations also back the proposed creation of a dedicated Life Sciences Council to oversee reforms and coordinate activity across the sector. The body would bring together government, industry, investors and researchers to accelerate innovation and commercialisation.
De Somer said such a council would help unlock the full potential of Australia’s life sciences capabilities.
“The rationale for establishing a Life Sciences Council is clear. It will help create the conditions to realise the full potential of Australia’s life sciences industry for Australian patients, harness the productive capacity of Australia’s economy, ensure we can commercialise Australian innovation, and capitalise on the productivity benefits of healthier Australians and health security,” she said. “Together we must focus RD&I activities on high-risk, high-impact challenges.”
Cassidy warned that without stronger coordination, Australia risks falling behind countries that have long prioritised life sciences as a driver of economic growth and global competitiveness.
“Without coordinated, whole of government action, Australia has risked losing to its global peers, many of which have long identified life sciences as a critical driver of economic growth, global competitiveness and health security,” she said.
With a growing pipeline of Australian biotechnology, pharmaceutical, medical technology and digital health companies looking to scale locally, Cassidy said the proposed council could serve as a vital forum for collaboration across the innovation ecosystem.
“The Council has potential to engage all tiers of government, startups, small to medium enterprises, large businesses, investors, and researchers, and will facilitate public private partnerships to catalyse investments. Now is the time for action,” she said.
The organisations also acknowledged the contributions of industry members, including UCB and Bristol Myers Squibb, in advocating for the Life Sciences Council, and thanked review chair Robyn Denholm and the expert panel behind the report.
Industry leaders say the challenge now is to turn the report’s recommendations into lasting reform.
“Australia needs a new RD&I system, new attitudes to RD&I, new businesses, new opportunities, and new jobs leading to a better country,” the statement said. “Now we must all work together to make lasting change for future generations.”