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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

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