Value creation and investor performance of the Australian drug development biotech sector

Using investor returns and a proposed measure of value creation, the research examines for the first time the performance of the Australian drug development biotech sector over a 15-year period from 2003 to 2018. It concludes that Australia, unlike the US, has failed to create a single flagship drug development biotech firm, no single firm has delivered attractive investor returns and overall the sector has destroyed value and delivered negative investor returns.