register

News & Trends - Biotechnology

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

Health Industry Hub | July 11, 2024 |

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 in 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 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.

In reimagining healthcare across the entire patient journey, Health Industry HubTM is the ONLY one-stop-hub bringing the diversity of Pharma, MedTech, Diagnostics & Biotech sectors together to inspire meaningful change.

The exclusive leadership and influencer podcasts and vodcasts add huge value to our breaking news coverage. The content on Health Industry Hub is copyright protected and should only be accessed under individual user licenses. Please click here to subscribe and visit T&Cs here.


News & Trends - Pharmaceuticals

Federal court dismisses Arrotex dispute against Health Minister

Federal court dismisses Arrotex dispute against Health Minister

Health Industry Hub | July 12, 2024 |

Pharma News: The Federal Court has ruled against Arrotex Pharmaceuticals in their bid to challenge the Minister for Health and […]

More


News & Trends - Pharmaceuticals

Largest diabetes study reveals major benefits of dual therapy with SGLT2 inhibitors and GLP1 receptor agonists

Largest diabetes study reveals major benefits of SGLT2 inhibitors and GLP1 receptor agonists dual therapy

Health Industry Hub | July 12, 2024 |

Pharma News: Combined use of sodium glucose co-transporter 2 inhibitors (SGLT2is) and glucagon-like peptide-1 receptor agonists (GLP1-RAs) is likely to […]

More


News & Trends - Pharmaceuticals

Queensland opens first regional CAR T-cell treatment centre

Queensland launches first regional CAR T-cell treatment centre

Health Industry Hub | July 12, 2024 |

Pharma News: Gilead Sciences and Lymphoma Australia have welcomed the opening of Australia’s first regional CAR T-cell treatment centre at […]

More


News & Trends - Pharmaceuticals

Government inaction leaves essential medicine shortages unresolved

Government inaction leaves essential medicine shortages unresolved

Health Industry Hub | July 12, 2024 |

Pharma News: Over the past 12 months, at least six essential medications and products have been withdrawn from the Australian […]

More


This content is copyright protected. Please subscribe to gain access.