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Australia's pharmaceutical industry as a whole turns over approximately US$10.7 billion a year and spends some US$384 million annually on research and development.

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On June 13, 2005, in Merck KgaA v. Integra Lifesciences I, Ltd., the US Supreme Court ruled unanimously that the exemption to patent infringement outlined in Title 35, Section 271(e)(1) of the US Code extends to all uses of patented inventions reasonably related to the development and submission of any information under the Food, Drug, and Cosmetic Act, including preclinical studies. In practice, this means that the exemption will allow companies to use other firms' patented compounds for experimentation on drugs that are not ultimately the subject of a submission to the Food and Drug Administration.

The Elan Effect

With a bright new future following restructuring, Dublin-based Elan sees former executives establish exciting new businesses in Ireland, while it continues its own strong R&D program.

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The EU Framework Program has operated for the last twenty years, dedicating large sums of funding over five-year periods, all the time aiming to achieve scientific excellence, improved competitiveness, and innovation through promoting increased cooperation between researchers and industry across Europe.

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Building Biotech Businesses

Ireland's Forward-Thinking Business Support Strategy Encourages Research Funding and Fast-Track Company Growth

Venture capital activity in Ireland grew 25.7% in the first half of 2005 compared with the same period in 2004. New life-sciences venture capital funds have been established and existing firms have ramped up their activity in the sector.