World-class researchers and state-of-the-art facilities, a streamlined regulatory framework, and generous tax incentives have made Australia a prime location for the biotech industry.
Over the past decade, Australia has become a global leader in life science research and biologics manufacturing. Generous tax incentives and government funding are further strengthening its position as a prime location for biotech companies.
Placed 17th in 2010, Australia has jumped to fifth (out of 54 countries) in global biotechnology1, outperforming countries like the United Kingdom, Germany, and Canada.
Australia is home to more than 400 locally-owned biotechnology and 500 MedTech companies, and with around 50 multinationals operating subsidiaries in Australia, including GSK, Merck, Pfizer, Bristol-Myers Squibb, and Novartis, the Australian life sciences sector is valued at over AU$100 billion.