Thursday, 20 June 2019 Sydney

Report finds pharmaceutical manufacturing driving huge growth in Victoria’s exports::

New data shows Victoria's medical technologies and pharmaceuticals exports are experiencing rapid growth thanks to world-class advanced manufacturing capabilities.

Victorian Minister for Industry and Employment Wade Noonan today launched the State of the Sector Medical Technologies and Pharmaceuticals 2017 report while visiting GlaxoSmithKline's (GSK) facility in Melbourne's east.

The report shows that the state's medical technologies and pharmaceuticals sector generates A$12.7 billion in annual revenue.

The report also found that pharmaceutical manufacturing has led to a huge growth in overseas exports to A$1.3 billion in 2016, an increase of 40 per cent.

Victoria's medical technologies and pharmaceuticals sector employs more than 23,000 people, and is comprised of more than 650 companies, including small start-ups, Victorian exporters, and global manufacturers.

The State Government of Victoria has supported a number of initiatives to facilitate investment and employment opportunities in the sector, including: