13 Mar 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Sydney-based pharmaceutical company Phebra has inaugurated its $25 million manufacturing facilities at Lane Cove West recently. The inauguration was done by Australia's Minister for Industry and Innovation Mr Greg Combet.
The company, which started as a distributor of specialist pharmaceuticals in 1993, has moved into research and development. "Phebra manufactures critical medicines that would otherwise be unavailable in Australia. This latest investment includes new infrastructure that will increase their hourly production rate by up to five times," said Mr Combet.
As an active collaborator with major hospitals in Sydney, Melbourne and Newcastle, the company is set to benefit from the support the Gillard Government has announced for clinical trials in Australia as part of the $1 billion Plan for Australian Jobs. "The government is reforming the arrangements for clinical trials of new medicines and treatments in Australia to encourage innovation and investment in the pharmaceutical research industry," said Mr Combet.
He also pointed out that the Australian pharmaceutical industry is a major high tech industry. "It employs more than 40,000 Australians, generates export earnings of around $4 billion a year and invests more than $1 billion a year in research and development. The government's clinical trial reforms present a major opportunity for this industry to boost investment and high skilled jobs," he said.