‘What we need is political courage and visionary leadership in R&D’, says BeiGene VP & Head of Asia Pacific: Reimagining Healthcare Senior Leadership Series

In the latest edition of the Reimagining Healthcare senior leadership series, Adam Roach, VP & Head of Asia Pacific at BeiGene, delved into how the R&D and clinical trials ecosystem could radically transform over the next 10-15 years.

Roach emphasised the urgency of challenging conventional thinking, especially in light of a 14-year decline in national investment in science and biotech research, which has left Australia lagging behind the OECD average and less competitive internationally.

“Governments are not set up to think holistically and strategically about R&D investment. Budgets and funding decisions tend to get made in silos,” he stated.

Around 10 years ago, the Asia Pacific region contributed approximately 20% of the world’s biotechnology innovation. Last year in 2023, it was nearly 40%.

“The question for us as a nation is do we want to be part of that next chapter in the Asia Pacific or not? We need to do more to keep pace,” he emphasised.

The recent Federal Budget announcement, which includes a strategic examination of the nation’s R&D system and funding for a one-stop-shop for clinical trials, represents a significant opportunity.

With health and medical research accounting for 28% of Australian R&D expenditure, Roach said “We have earned a voice at the table. There is an opportunity for industry to bring resources and expertise to drive the policy discussion…”

He further added, “What’s really required is political courage and visionary leadership to think across governments and look holistically at the macro economic picture in Australia.”

Roach called for essential actions in the short-term to lead us towards a reimagined future of R&D.

“If the government is going to get a holistic strategic lens on this opportunity, then we can’t keep on compartmentalising stakeholder discussions, where there’s a lack of transparency. I would love to see a forward looking Summit across all agencies of government and stakeholders that looks at healthcare expenditure, particularly in R&D and clinical trials…” he emphasised.

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