Complementary Medicines Australia has warmly welcomed the Government’s commitment to introduce new rules which will boost innovation, with the protection of intellectual property.
Australia is set to become the Innovation Nation for Complementary Medicines
Australia is set to introduce five years protection for clinical trials for complementary medicines; which will boost Australia’s research base and lead to greater innovation of world-class Aussie complementary medicine products.
Carl Gibson, Chief Executive of CMA said; “This initiative is truly ground-breaking. Australia is leading the world by rewarding investment and protecting research. In a world first Australia will protect clinical trials for complementary medicines. So no more copycat cut and paste - but rewards for companies with the evidence base.
Taken together with the recent introduction of market exclusivity for new propriety ingredients, and a new “Aust-Listed Assessed” Registration pathway which provides higher level claims for higher levels of evidence; Australia is set to become the Innovation Nation for Complementary Medicines.
Industry has been campaigning since the 1980s for better protection of clinical trials and this is fantastic news, a real boost for the industry for the next generation.