September 8, 2016
More than 2,000 medicine brands will be cheaper from next month after changes to the Pharmaceutical Benefits Scheme (PBS).
Federal Member for Gippsland Darren Chester said some medicine brands treating common conditions would be half the current price.
“The Coalition Government is delivering the largest ever reduction in the price of medicines for consumers across the Pharmaceutical Benefits Scheme,” Mr Chester said.
“Patients across Gippsland will benefit greatly.
“Some people suffering multiple chronic conditions such as osteoporosis, high blood pressure and eye disease are set to save as much as $400 per year on their medicine scripts.”
The quoted figure of $400 per year relates to a non-concessional patient with diabetes, osteoporosis, high blood pressure and gastric reflux who is currently taking metformin for type 2 diabetes 500mg tablet twice daily; pantoprazole for gastric reflux 40mg tablet daily; alendronate 70 mg + colecalciferol 140 microgram tablet for osteoporosis (as per dosing instructions); and enalapril with hydrochlorothiazide for high blood pressure 20 mg/6 mg tablet daily.
Patients taking the medications listed would save up to $34 per month on scripts, which equates to a yearly reduction of $410.
The price drop will come into effect on October 1, 2016, and is part of the Coalition’s PBS Sustainability Package, which passed Parliament last year.
“In addition to saving patients money, this PBS reform will also save taxpayers nearly $900 million over the next four years by ensuring the Government isn’t overpaying for medicines either,” Mr Chester said.
Mr Chester said the Government would continue with its plan for budget repair to protect Medicare so it could continue subsidising more medicines for current and future generations.