The pharmaceutical industry in 1999, had a turnover of $5 billion. It is represented by the Australian Pharmaceutical Manufacturers Association.
Most pharmaceutical manufacturing activities in Australia are underpinned by Commonwealth Government assistance for pharmaceutical activities to offset the consequence of the monopsonist position of the Government. Pharmaceuticals included in the Pharmaceuticals Benefits Scheme are supplied in Australia at substantially lower prices than in other developed countries precluding competitive domestic manufacture. To offset this disadvantage, the Commonwealth Government has introduced investment incentives; initially the "Factor (f)" Scheme replaced by the Pharmaceutical Industry Investment Program.
Under the Pharmaceutical Industry Investment Program, nine companies will share in government grants of more than $300 million in exchange for agreements to commit at least $1.5 billion to research and development (R&D) and production value added (PVA).
Details at government site.
Few activities however synthesise pharmaceuticals - nearly all import the active ingredients.
See discussion on alkaloid manufacture in Tasmania which produces one-half the world's production.
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