LONDON, Jan. 9, 2017 /PRNewswire/ -- The incumbent Liberal-National coalition's victory in Australia's federal elections will not bringabout a clear policy direction for the healthcare sector. While the government has a fresh mandate to enactits policies, it is considerably weaker from the previous election and will be constrained by senate politicswhere the coalition does not have a majority. This creates downside risks for pharmaceutical firms keen tosee promises by the coalition, such as an investment of AUD7mn (USD5mn) into clinical research, frombeing implemented.
Headline Expenditure Projections
- Pharmaceuticals: AUD13.94bn (USD10.47bn) in 2015 to AUD14.39bn (USD10.49bn) in 2016; +3.2%in local currency terms and +0.2% in US dollar terms. US dollar forecast revised due to significantexchange rate fluctuations.
- Healthcare: AUD162.02bn (USD121.69bn) in 2015 to AUD168.94bn (USD123.24bn) in 2016; +4.3%in local currency terms and +1.3% in US dollar terms. US dollar forecast revised due to exchange ratefluctuations.
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