Victoria is home to vibrant clinical and medical research studies and a dynamic commercial sector, key R&D infrastructure and advanced manufacturing expertise making Melbourne a highly sought-after destination for international health research by global companies.

This growth story is supported by the Australian and Victorian Governments with a longstanding commitment to the health and medical research industry.

The Victorian scientific commercial sector includes more than 1500 companies based in Victoria, including 78 ASX-listed companies with a combined market capitalisation of A$200 billion.

The combined sector employs more than 51,000 people, with 17,000 in the Melbourne Biomedical Precinct, close to the centre of the city and incorporating Australia’s top tertiary institution, the University of Melbourne. In 2014 the Victorian health and medical industry generated A$12.7 billion in revenue, up from A$3.3 billion in 2002-03.

Melbourne has the highest number of Australian ASX-listed life science companies and many are partnering with multinational companies. Local organisations include fast growing innovator Telix Pharmaceuticals, with its precision medical radioisotope platform for cancer treatment; and IDT Australia who specialise in the development, scale-up, and cGMP clinical and commercial manufacture of high potency and cytotoxic APIs and finished drug product. Melbourne is also home to global drug company CSL as well as the location for Australian offices and manufacturing facilities of innovative global companies, Moderna, and BioNTech.

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