Austrade is promoting the Australian clinical trials industry.
Phase 2 trials typically cost 28pc less to conduct in Australia than in the US, Austrade reports.
When tax incentives are included, the advantage increases to 60pc.
"Overseas biopharma companies are also attracted by Australia’s advanced medical research environment, rapid trial approvals and robust regulatory framework.
"With over 50 clinical research networks and bio labs, Australia typically hosts 1,300 clinical trials each year."
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