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News

Pharmaceuticals set to drop in price

03/03/2017
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More than 2,000 pharmaceuticals used to treat common conditions, including ocular conditions, will drop in price from next month.

Federal Minister for Health Ms Sussan Ley announced that from 1 October, one in three medicine brands on the Pharmaceutical Benefits Scheme (PBS) would be cheaper for some consumers by as much as $20 per script – or more than $200 per year.

Sussan Ley, Federal Minster for Health
Sussan Ley, Federal Minster for Health

For some medicine brands, the price will decrease by as much as 50 per cent or more, and Ms Ley said the savings would be higher for Australians who took multiple medications daily.

“Millions of Australians will benefit from these innovative reforms, with some people suffering multiple chronic conditions such as osteoporosis, high blood pressure, diabetes and gastric reflux set to save as much as $400 per year on their medicine scripts,” she stated.

It was said that more than 80 per cent – or about 1,600 – of the 2,000-plus brands of medicines set to drop in price next month would see a direct saving to some consumers, with the remaining 20 per cent – those priced above the general PBS co-payment of $38.30 – expected to bring savings to taxpayers.

“In addition to saving consumers real money cash in hand, this [reform] will also save taxpayers nearly $900 million over the next four years by ensuring the [Federal] Government isn’t overpaying for medicines either,” Ms Ley said.

“However, as the health needs and costs of Australians continue to increase we still need to continue with our budget repair to protect Medicare and subsidising more medicines for current and future generations.”

AFT Pharmaceuticals
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