Industry supports Australia's new price deal

Australia’s pharmaceutical industry is urging the country’s legislators to pass a new medicines pricing bill that aims to save Aus$1.9 billion (US$1.7 billion) over a five-year period.

Medicines Australia has written to a senate committee urging that the Parliament should pass the legislation before 1 October.

Medicines Australia chief executive Dr Brendan Shaw said the legislation would deliver significant benefit to taxpayers and consumers.

“This agreement gives pricing certainty to Australia’s medicines industry,” Dr Shaw said.

“Importantly, it will also save the taxpayer $1.86 billion and will mean cheaper scripts for patients.

“Hundreds of medicines commonly prescribed to treat high cholesterol, hypertension, asthma, cardiovascular disease, rheumatoid arthritis and depression will become cheaper for patients currently paying the non-concessional rate.”

Andrew McConaghie