The Future of Life Sciences

16 Nov 2020

The Future of Life Sciences: Analysing the Budget and looking beyond

Innovation will be a driving force for growth and recovery from recession. The life sciences sector attracts $1.5b in R&D investment each year. This year’s budget sees the Government investing $2b in R&D Tax Incentives, removing the cap on refunds, lifting the rate and rewarding those businesses that invest the most. Additionally, the Government announced $460m for the Commonwealth Scientific and Industrial Research Organisation.

Watch the webinar on-demand, where we will discuss outcomes from the budget and the future of the sector, including the R&D tax incentive, increasing the manufacturing capability in Australia, the risk of a capital shortfall, funding for universities and regulation of the sector.

Michael Cunningham, Partner & National Head of Life Sciences is joined by Lorraine Chiroiu, CEO of AusBiotech, and Sukvinder Heyer, Partner - Innovation Incentives, Grant Thornton Australia.

Watch on-demand

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Looking back to look forward

The Life Sciences sector has never been more important or more in the public eye. Medical manufacturing is a priority industry of the modern manufacturing initiative. We saw the proposed changes to the R&D incentive rolled back and an additional $2b of investment injected into the R&D Tax Incentive scheme. Investor appetite for medical devices and pharmaceuticals – always strong – is now even higher off the back of COVID. Now is a great time to gauge the market and talk to potential investors. The market is fickle but at the moment investors are attentive, they're open, and they're listening.

Read our 10 year report

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