From the Chief Executive
A thought occurred to me the other day. The Department of Health has, again, updated its revised forecasts for spending on Australia’s Pharmaceutical Benefits Scheme. These figures, presented to the Australian Parliament, show that the price disclosure reforms introduced over the years now mean the Government will spend over $9 billion less on the PBS over the next four years than it was expecting to 10 months ago.
the appropriate role for the medicines industry in determining the prices of medicines on the Australian Government’s Pharmaceutical a year in costs – that effectively means that the Government is now expecting to get one year of the PBS free over the next five years.
News and Updates
The Consumer Price Index (CPI) for the March quarter has shown growth in pharmaceutical prices due to the normal mechanics of the Pharmaceutical Benefits Scheme (PBS) safety net.
Medicines Australia Chief Executive, Dr Brendan Shaw, said today’s figures showing consumer pharmaceutical price growth should be considered in the context of the December 2013 CPI, when pharmaceutical prices fell 1.6% per cent.
Medicines Australia has called for a new and renewed focus on developing the Australian medicines industry.
Speaking at the opening ceremony of the 5th Pharmaceutical Sciences World Congress in Melbourne yesterday, Medicines Australia Chief Executive, Dr Brendan Shaw, said now was the time to take the next step in developing the Australian industry.
As the 1 April price cuts come into effect for 121 medicines, Medicines Australia reaffirms that the $20 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,” Dr Brendan Shaw, Medicines Australia Chief Executive, said.
In a speech to the Australian Clinical Trials Alliance today, Medicines Australia Chief Executive, Dr Brendan Shaw, called on the Government to work with the industry to implement its election promise to accelerate clinical trial regulatory reform.
“Despite a recent increase in clinical trial activity in Australia, our share of the global investment in this area continues to decline,” Dr Shaw said.