Price cuts mean PBS can afford new medicines, says Medicines Australia

As of today in Australia, price cuts come into effect for 121 medicines, and trade group Medicines Australia reaffirms that the A$20 billion ($18.48 billion) in savings from ongoing Pharmaceutical Benefits Scheme price cuts have made the PBS sustainable.

“There is no need for further PBS savings measures in the upcoming Budget, rather we should be looking at ways to improve the process for listing new medicines to treat cancer, diabetes and other diseases,” said Brendan Shaw, Medicines Australia chief executive, adding: “It is estimated that today’s price cuts alone will save taxpayers at least another A$1.5 billion over the next four years, providing ample scope for the PBS to fund new and innovative treatments as they become available.”