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PBS medicines save $7 Billion in Hospital Costs

A new report has found that investing in new medicines pays for itself by reducing other public health expenditure. The modelling, published in The impact of pharmaceutical innovation on premature mortality, hospital separations, and cancer survival in Australia, was conducted by American economist Professor Frank Lichtenberg. Medicines Australia CEO Tim James said, “This comprehensive study…

View article· Tuesday, 24 November 2015

Patient Medicine Records Should Be Included In eHealth Data

Medicines Australia has called on the Federal Government to make a patient’s medication records a mandatory inclusion in eHealth profiles to improve the safe use of medicines. The option has been put in a submission to the Senate inquiry into the Government’s eHealth legislation which seeks to make changes to the Personally Controlled Electronic Health…

View article· Thursday, 5 November 2015

Appointment of Medicines Australia Board of Directors and interim-Chairman

Mr Wes Cook, Managing Director of Boehringer Ingelheim Australia, has been selected as the interim-Chairman of Medicines Australia. The appointment was made at the first meeting of the new Board of Directors following the Medicines Australia Annual General Meeting in Sydney today. The decision to appoint a temporary Chairman follows the retirement of Dr Martin…

View article· Tuesday, 20 October 2015

Chairman of Medicines Australia

Medicines Australia today announced that its Chairman, Dr Martin Cross, will retire from the Board upon the conclusion of the current Board term on 20 October 2015. Dr Cross was appointed to the Board of Medicines Australia and made Chairman in 2013 after nearly 30 years in the global pharmaceutical industry. Among the positive progress…

View article· Monday, 12 October 2015

High Court decision could undermine development of innovative medicine

The High Court decision to disallow patenting of isolated genetic materials is of concern to innovative medicines sector. “It is essential that Australia maintains strong and stable intellectual property protection that will support the development of new biological medicines,” said Medicines Australia CEO Tim James. “We will need to consider the implications of this decision…

View article· Wednesday, 7 October 2015

TPP a missed opportunity for the Australian Biopharmaceutical Community

The outcomes of the negotiations for the Trans-Pacific Partnership agreed to in Atlanta overnight are a disappointing outcome and a missed opportunity to stimulate and grow the Australian biopharmaceutical industry. Just last month, the Prime Minister declared that innovation would be at the centre of the Federal Government; the decision not to support greater data…

View article· Tuesday, 6 October 2015

Australian Healthcare Leaders Unite in Support of Transparency

National health professional and consumer organisations have voiced their support for the transparency changes in the new Medicines Australia 18th Code of Conduct, which has come into effect from today. CEO of Medicines Australia, Tim James, said it’s great to see the support of important healthcare leaders including the Pharmacy Guild of Australia, Consumers Health…

View article· Thursday, 1 October 2015

2015 PWC Pharma Industry Survey Highlights Challenges for Innovative Medicines Sector

The 2015 PWC survey of the Australian medicines industry provides an important and timely insight into the challenges and opportunities confronting the Australian innovative medicines industry. The survey, titled Challenges and Change: A report on the Australian Pharmaceutical Industry provides a snapshot of the health of the local industry and is a rolling scorecard on…

View article· Wednesday, 23 September 2015

Final Budget Outcome Confirms PBS Is Sustainable

The release of the Final Budget Outcomes for 2014‑15 has revealed policy reforms are continuing to put downward pressure on PBS expenditure. The final Budget papers released today reveal that forecast PBS expenditure has been continuously revised down, year on year since 2011. The final PBS outcome is $2.56 billion below the original forecast in…

View article· Monday, 21 September 2015

Focus on Innovation a welcome start for the Turnbull Government

Medicines Australia would like to congratulate all the Ministers sworn-in to the first Turnbull Ministry and is particularly encouraged by the Prime Minister’s focus on innovation. The new Ministry contains a mixture of continuity, fresh faces and new positions, such as in the areas of rural health and innovation. At his first press conference Prime…

View article· Monday, 21 September 2015

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RT @ThePharmaLetter: Australia cuts down public health bill by investing in new medicines under PBS - Report

RT @jcboyce: Great to be sitting with @ShayneNeumannMP and @TeresaGambaroMP at the @PharmGuildAus dinner. A night to talk about a healthy f…

At the @PharmGuildAus dinner at Parliament House. @sussanley @billshortenmp @RichardDiNatale all speaking on health

RT @pharmacydaily: #PBS funded innovative medicines have created hospital sector savings of $7b - new report released by @MedicinesAus http…

#ProfLichtenberg @PressClubAust - how #innovativemedicines reduce mortality + reduced hospital costs. #auspol

PBS drugs save money and lives: report #innovativemedicines

Read @newscomauHQ #innovativemedicines pay for themselves. #ProfLichtenberg report is here


PBS medicines save $7 Billion in Hospital Costs

This valuable report helps to explain the budgetary and life benefits of listing innovative medicines on the #PBS

RT @MSD_Aus: .@timothycjames CEO @MedicinesAus addresses the Parliamentary Friends of Medicines to discuss #innovativemedicines https://t.c…

Thanks for coming @hutchinson_eric I hope you + all parliamentary colleagues who came along found it insightful.

RT @PharmaDispatch: @BayerHealthCare Australia supporting heart health in regional Qld @MedicinesAus #health #healthcare #GreatWork https:/…

RT @PharmaDispatch: @BayerHealthCare Australia team at Heart of Australia in Goondiwindi @MedicinesAus

Congratulations to Bill Ferris: new Chair of Innovation Australia.