Victoria is home to vibrant clinical and medical research studies and a dynamic commercial sector, key R&D infrastructure and advanced manufacturing expertise making Melbourne a highly sought-after destination for international health research by global companies.
This growth story is supported by the Australian and Victorian Governments with a longstanding commitment to the health and medical research industry.
The Victorian scientific commercial sector includes more than 650 companies based in Victoria, including 69 ASX-listed companies with a combined market capitalisation of A$83 billion.
The combined sector employs more than 23,000 people, with 17,000 in the Melbourne Biomedical Precinct, close to the centre of the city and incorporating Australia’s top tertiary institution, the University of Melbourne. In 2014 the Victorian health and medical industry generated A$12.7 billion in revenue, up from A$3.3 billion in 2002-03.
Melbourne has the highest number of Australian life science companies listed on the ASX and many are partnering with multinational companies, such as Roche and Siemens Healthcare. Local organisations include fast growing innovator Starpharma, with its dendrimer delivery platform for medical and agricultural applications; and IDT Australia who specialise in the development, scale-up, and cGMP clinical and commercial manufacture of high potency and cytotoxic API and finished drug product.
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