Greg Hunt will replace Christopher Pyne as Minister for Industry, Innovation and Science, while Craig Laundy succeeds Wyatt Roy as Assistant Minister for Industry, Innovation and Science.
Mr Hunt moves to the innovation portfolio, with responsibility for overseeing implementation of government's National Innovation and Science Agenda, after more than a decade in the environment portfolio, originally as parliamentary secretary in the Howard government, then shadow minister and ultimately minister for the past three years.
Mr Pyne is the new Minister for Defence Industry.
Sussan Ley was reappointed health minister, with assistant minister Ken Wyatt retaining his position and the appointment of Dr David Gillespie as Assistant Minister for Rural Health.
Dr Gillespie is a gastroenterologist and has become well known to the health sector since his election in 2013.
Ministerial responsibilities in health will be confirmed in the coming weeks.
Former Minister for Rural Health and deputy leader of the Nationals, Senator Fiona Nash, whose responsibilities included the TGA, has departed the health portfolio for Regional Development, Local Government and Territories.