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News & Trends - Pharmaceuticals

Tackling clinical trials reform to remain competitive on the international stage

Health Industry Hub | January 30, 2023 |

Pharma News: A global reputation for clinical trials excellence has made Australia a ‘go to’ destination for companies wanting to conduct clinical trials. However, like many other countries, Australia needs to overcome certain barriers to remain competitive on the international stage.

Professor Chris Levi, Immediate Past Chair of Australian Health Research Alliance (AHRA) and James McAdam, Associate Director, Government Affairs Policy and Advocacy, BMS joined Health Industry Hub to discuss the current reforms in the clinical trials ecosystem, key priorities and the challenges that we need to address.

Professor Levi said “It’s an increasing challenge for governments to maintain the investment in health. There’s a need for innovative ways to improve the quality of care and that circles back to the value proposition for clinical trials.”

He pointed to a “relatively unsophisticated understanding” of clinical trials, a lack of skills development and “connection point for all clinical trials enterprises across the country” as key barriers in the current environment.

Industry-sponsored clinical trials cost more than $1.1B per year in Australia. Industry sponsors, like BMS, select where to conduct clinical trials based upon a range of factors including costs per patient, trial start-up time and the ability for sites to recruit patients in an acceptable timeframe. James and Prof. Levi explored the key success factors that will ensure the proposed changes outlined by the Australian Commission on Safety and Quality in Healthcare optimise this landscape.

They also recognised the critical role of patients and patient experiences in informing policies and enhancing clinical trial delivery and governance.

The key takeaways from the recent BMS Summit were voiced, including how the reforms will be funded to enhance Australia’s future competitiveness in clinical trials.

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.

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