10 January 2017; San Francisco, California, United States: At a private event during this year’s JP Morgan conference, Novotech and Deloitte briefed international biotech companies on how to access Australia’s R&D Refund Scheme and the regulatory benefits available when undertaking early stage clinical trials in Australia.
Speaking at the event, Deloitte R&D Tax Incentives Account Director Megan O’Connor spoke on how important it was that biopharma CFOs were aware of the tax refund benefits available well before selecting clinical trial sites and explained the processes required in accessing these benefits.
Novotech Associate Director Barry Murphy also presented key findings from the latest Frost & Sullivan white paper, ‘Australia: Preferred Destination for Early Phase Clinical Trials’. The white paper revealed how cost, regulatory speed and flexibility, and quality are the key drivers for biopharma companies selecting Australia for early phase trials. A number of case studies were presented suggesting that cash savings of up to 60% versus the US are available when selecting Australia for clinical trials.