MoU continues to safeguard PBS sustainability
Medicines Australia chief executive Dr Brendan Shaw tonight welcomed the Government’s recognition in the Budget that the Memorandum of Understanding with Medicines Australia continues to keep the Pharmaceutical Benefits Scheme sustainable.
Dr Shaw said the Budget reflected the Government’s commitment to the MoU, which agrees to no further price related savings measures for the life of the agreement.
“This Federal Budget shows the value of a collaborative, negotiated approach to managing the PBS,” Dr Shaw said.
“PBS spending growth is currently at historically low levels, so it’s clear that the MoU and previous reforms are working, and it’s clear that the PBS is sustainable.
“The $2.3 billion downward revision on PBS expenditure can be directly attributed to the agreement between the industry and the Commonwealth.
“It shows that responsible agreements such as the MoU provide a robust framework for managing the PBS. They provide material benefits to governments and taxpayers.
“This Budget outcome should also provide the Government with the confidence that it can act expeditiously on PBAC recommendations and provide Australian patients with timely access to new medicines.
“Medicines Australia will continue to work with the Government to ensure Australians get such access.”
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