Pharma in Future Fund?
May 15, 2014
THE establishment of the Medical
Research Future Fund, projected
to reach $20b by 2019-20, in the
budget (PD 14 May) has caused a
stir but some are unsure whether
it will include pharmaceutical
research.
University of Sydney Dean of
Pharmacy Professor Iqbal Ramzan
said the devil would be in the
details as it was not yet clear
whether the Fund would be for
medical research alone, or medical
and health research.
A National Health and Medical
Research Council (NHMRC)
spokesperson said the details were
being worked through and the
organisation was in discussion with
the Department of Health (DoH)
and other agencies.
The Treasury and Medicines
Australia had not replied at time of
publication.
The spokesperson said in 2013 the
funded rate for applications where
pharmacology was identified as the
field of research was 18.4%.
Research Australia managing
director and ceo Elizabeth Foley
said it was exciting that within
six years, NHMRC funding would
more than double and a certain
amount would likely go to drug
development, particularly in areas
such as diabetes and dementia.
The Fund would mean more
security for employment in
research and might encourage
foreign investment in Australian
research, particularly with the
simplification of the clinical trial
process, for which the government
has granted $9.9m over five years.
Foley said she expected to see
more collaboration in the industry
and supported the McKeon
Review’s recommendation that
research be used strategically,
saying it was a good time to look
at Australia’s research needs,
how funding was allocated and to
develop a national strategic outlook
which industry understood.
Ramzan said provided a broader
definition was used for the fund
and research was worth doing
and peer reviewed, pharmacy
researchers were well placed to
receive funding in areas such as
drug discovery and quality use of
medicines.
While the Fund might make
pharmaceutical companies think
about funding research in Australia,
more of a “kick” might be needed,
such as tax breaks, he said.
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