The head of Australia’s peak pharmaceutical body, Medicines Australia, has announced his resignation after just over a year in the job.

CEO Tim James announced he was stepping down in a statement on Saturday.

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“It has been a tremendous honour and privilege to lead this innovative industry in Australia,” Mr James said.

“I’m looking forward to spending time in Sydney with my young family, to whom I owe so much after this year.”

The lobby group has been at loggerheads with the federal government this year over cuts to the Pharmaceutical Benefits Scheme.

Mr James came to Medicines Australia in September 2014 following a career in state and federal politics as a staffer for Liberal politicians including former prime minister John Howard.

Interim chairman of the lobby group, Wes Cook, said the board would look for a new CEO in 2016 and thanked Mr James for his work.