Price cuts for drugs announced

6 Apr 2017

The AMA has welcomed the latest round of Pharmaceutical Benefits Scheme (PBS) price cuts, with Health Minister Greg Hunt announcing that Australians will save up to $200 a year each on the cost of medicine.

The prices of more than 1,100 medicines, treating diseases and illnesses like breast cancer, mental health, eczema, psoriasis, and Parkinson’s disease, will be cut from 1 April.

“These reductions are expected to save Australian families $135 million over the next four years, and will also deliver estimated savings to taxpayers of $455 million,” Mr Hunt said.

AMA President, Dr Michael Gannon, said that it was vital to reduce the cost of medicines.

“Certainly there is evidence that shows people are not filling their prescriptions due to cost of living pressures,” Dr Gannon told News Corp.

“We need to always be conscious of the cost of living pressures on the most vulnerable members of our society, and anything we can do to alleviate that pressure through medicine costs is a good thing.”