From the CEO
As the mining boom sputters out, Australia is taking a long-overdue look at ways to improve its competitiveness in a cut-throat global marketplace.
The global business environment is changing rapidly. The economic rise and technological advances of many Asian nations may open up new markets for Australia, but it is also introducing new competitors.
News and Updates
A report released yesterday shows Australian patients continue to pay less for medicines, due to a strong rise in the number of prescriptions costing less than the PBS co-payment.
Medicines Australia CEO, Tim James, welcomed the PBS Expenditure and Prescriptions Twelve Months to 30 June 2014 report, which confirms that the cost to fill a script is dropping for both patients and the Australian Government.
“More and more medicines continue to drop below the $36.90 general PBS co-payment, from 62 million to 72.3 million scripts over the period, growth of 16 per cent,” Mr James said.
Medicines Australia welcomes the Australian Government’s plans to improve access to medicines and medical devices by cutting unnecessary red tape.
Medicines Australia CEO, Tim James, has further supported the Government’s proposal to examine whether the Therapeutic Goods Administration should introduce fast-track approvals and reduce the regulatory burden on manufacturers.
“Australia has a world class regulator in the TGA and timely, targeted re-analysis and improvement is a hallmark of that quality. Full marks to the Government in selecting three very distinguished experts in Will Delaat, Lloyd Sansom and John Horvath to undertake this review,” Mr James said.
Medicines Australia CEO Tim James has welcomed the Department of Health’s confirmation that PBS growth was negligible for the 2013-14 financial year.
Appearing before Senate Estimates last night, senior Departmental officers confirmed that the PBS only grew $150 million last year, to $9.15 billion – a growth figure well below the rate of inflation.
“This latest data just confirms what Medicines Australia has been pointing out for a long time,” said Mr James.
Medicines Australia Chairman Dr Martin Cross today welcomed the release of the Government’s Industry Innovation and Competitiveness Agenda and the announcement of five industry growth centres.
“Australia is uniquely placed to harness our competitive advantages, particularly in the medical technologies, pharmaceuticals and advanced manufacturing sectors,” Dr Cross said.