PIC's Vision

By 2012, to ensure an aligned pharmaceuticals sector reaches critical mass across the value chain for the 21st century by:

  • delivering on the Action Agenda vision;
  • establishment of R&D partnerships (through secure IP and hubs/clusters);
  • maintaining our manufacturing capability, including as a stepping stone to biotech; and
  • securing policy signals and incentives which attract investment.

PIC Priority Actions

The PIC's priority actions for the period to 2012 are:

  • Increasing R&D investment in Australia
  • Ensuring Australia is an attractive environment for clinical trials
  • Encouraging a flexible regulatory, reimbursement and tax environment in Australia which supports global competitiveness
  • Co-ordinating a national approach to addressing industry skills needs
  • Promoting Australia's competitive advantages
  • Maintaining a strong Government-Industry relationship through the Pharmaceuticals Industry Working Group
  • Effectively capturing intellectual property for successful commercialisation, and
  • Promoting awareness of PIC priority actions and initiatives.

About PIC:

The Pharmaceuticals Industry Council is the peak body for Australia's pharmaceutical and biotechnology industries. It brings together the innovative, generic and biotechnology industries to represent a whole-of-sector approach to addressing opportunities and threats to investment in the sector.

The PIC was established in June 2006, following the three-year implementation of the Government-endorsed Pharmaceuticals Industry Action Agenda. The PIC aims to take forward the work of the PIAA, particularly to double Australia's share of the global pharmaceuticals industry by 2012.

The biopharmaceuticals sector in Australia employs approximately 34 000 people, exports almost $4 billion worth of medicines annually and invests more than $752 million per year in research and development collaborations with local hospitals, universities and research organisations. The industry is a major innovative contributor to the economy, and one of the most R&D intensive industries in Australia.