A new A$4 million medicines manufacturing centre will be established in Victoria to help the pharmaceutical industry create new products, grow exports and develop skills.

The new Medicines Manufacturing Innovation Centre (MMIC) will be led by Monash University and supported by global pharmaceuticals company GlaxoSmithKline (GSK) and the State Government of Victoria.

Research at Monash University
Image: Researcher at Monash University 

The centre was announced at the International Biofest in Melbourne which will host more than 2,000 delegates from around the world in what is Australia's largest gathering of life sciences experts.

MMIC will provide local medicines manufacturers with access to specialist scientific capabilities to solve technical challenges.

It will also encourage investment in research and development, high-tech manufacturing, skills development and collaboration.

MMIC will  offer internships with manufacturing companies to provide students with industry experience so they are equipped to operate in the workforce.

Since 2010, more than 85 Monash students have gained industry experience through internships at GSK, all gaining employment within six months of graduation.

The State Government of Victoria is supporting high growth sectors, such as medical technologies and pharmaceuticals, through its A$200 million Future Industries Fund

More than 50 per cent of all ASX-listed life science companies are based in Melbourne.