In Australia, pharmaceutical product exports have dropped $1.4b since 2012 yet the nation has a skilled labour force, existing infrastructure and a reputation for safe manufacturing. How as a nation are we not competitive? Are we not entrepreneurial? Are we the victim of foul play?
I find this statistic very interesting given the above points I raised and the proximity toomany emerging markets in nearby Asia.
Yet we are at a loss.
It seems that other parts of the world are screaming for quality pharmaceutical manufacturing and reputable supply lines. Maybe Australia is the next great exporter of medicines or maybe the world thinks we are too far away. Maybe we think our reputation is better than it actually is.
Pushing the agenda on medicine exports may be one way to grow the local economy in a climate where growth is questionable. Perhaps this warrants further thought?