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MoU keeping PBS sustainable

Tuesday, 8 May 2012

Media Release

Medicines Australia chief executive Dr Brendan Shaw tonight welcomed the Government’s recognition in the Budget that the Memorandum of Understanding with Medicines Australia is keeping 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.

“The MoU is working well. It is delivering savings to taxpayers, savings to consumers and process improvements to the PBS,” Dr Shaw said

“The MoU is already well on the way to delivering a minimum of $1.9 billion in savings to the PBS.

“PBS spending growth is currently at historically low levels, so it’s clear that the MoU is working and it’s clear that the PBS is sustainable.

“The MoU provides a good framework for managing the PBS and shows cooperation between industry and the Australian Government.

“It also provides the Australian medicines industry with the business predictability that industry needs to be able to continue bringing new medicines to Australian patients and contributing to the national economy.

“The Australian medicines industry exports more than $3.7 billion of products and invests more than $1 billion in R&D annually. A predictable operating environment means the industry is better able to continue making that contribution.”

-ENDS-

Contact Person:

Jamie Nicholson
Media Communications Manager
Phone: 0419 220 293
Email:
Jamie.Nicholson@medicinesaustralia.com.au

Information

As COVID19 continues to spread, our thoughts go out to anyone who has been infected or impacted. We hope that you are taking the necessary precautions to keep safe and well, both at work and at home.

Medicines Australia continues to monitor the situation and take advice from the Department of Health and the World Health Organisation. We are focused on responding to the important short-term issues but are also ensuring we stay balanced and maintain a focus on the medium and long-term business for our industry along with the well-being of our people.

At Medicines Australia we have initiated the following to ensure we support containment measures to provide business continuity and the well-being of our staff.

  • All non-essential travel has been restricted or cancelled
  • All face-to-face meetings (with external stakeholders and members) have been changed to virtual meetings (where appropriate)
  • Staff have been provided with the latest official information on COVID-19 through a hot-link on the office intranet; this information is regularly monitored and updated
  • Flexible working arrangements are covered in our HR policy which will allow staff to work remotely, if or when required
  • Current IT infrastructure enables staff to work remotely and will be in use if any person needs to self-isolate
  • Visual reminders have been displayed around the office, providing information about best hygiene practices
  • Extra hand-sanitiser, tissues and cleaning products have been supplied to staff for their work spaces

Our latest information is located at medicinesaustralia.com.au/covid-19/

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