With 11 percent share and $11.65 billion is revenue, Australia grew marginally.

It has been a bad year or Australia's top three companies which nearly account for almost 77 percent of the total revenue generated by Australia's bioscience companies.

While CSL registered six percent growth, Sigma Pharmaceuticals and ResMed recorded six percent decline and zero percent growth respectively.

Australia has only three companies that have in excess of $1 billion in revenue.

Australia joined hand with Korea to promote cooperation in biotechnology for mutual interest, relevant to economic and social development and to promote dialogues in formulation of biotechnology policy.

Allotted $186 million for supporting Cooperative Research Centers in cancer and hearing sector to develop new devices, therapies and service delivery models.

It introduced Australian Innovation and Manufacturing (AIM) Incentive, an incentive to keep home-grown intellectual property (IP) once it reaches commercialisation, as well as associated manufacturing.

AUSTRALIA: TOP 20 BIOSCIENCE COMPANIES