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European Australian Business : 2008
22 workforce born overseas. More Aus- tralians speak a Chinese dialect than any other non-English language and three million of us speak a language other than English at home. The benefits our open investment policies have generated are pro- found. From being a place where European companies sold medicines, we are becoming a place where Eu- ropean companies make medicines. Boehringer-Ingelheim has a A$100 million collaboration agreement with Biota to develop and commercialise its nucleoside drugs for the treatment of Hepatitis C. Novartis has a A$274 million agreement with Cytopia to de- velop orally-administered compounds to prevent transplant rejection and to treat auto-immune diseases such as rheumatoid arthritis. Our universities are also being targeted by European biotechnology companies. PharmaMar is working with the University of Queensland to identify potential anticancer drugs from marine organisms. In 2006, Australia’s 448 biotech companies filed more than 100 patents with the US Patent Office. European investment is essential to the Australian economy and may even help us resolve pressing issues. Australia is currently experiencing the most prolonged drought in living memory. The drought not only affects our farming industries, it is forcing us to think seriously about whether we are using our water resources in the right way. Netherlands-based company Schlum- berger is helping us work that out. The Gnagara Mound in Western Australia We work in partnership to provide insightful, strategic legal representation that will bene?t your business now and in the future. Level 12 60 Carrington Street SYDNEY New South Wales 2000 Phone: +61 2 8915 1000 Fax: +61 2 8916 2000 Email: firstname.lastname@example.org www.addisonslawyers.com.au