3 May 2016 - The innovative medicines industry acknowledges the Australian Government’s commitment to maintaining funding levels within the Federal Budget for the Pharmaceutical Benefits Scheme (PBS).

“We believe tonight’s budget provides predictability in PBS arrangements, improvements to registration processes for new medicines coupled with company tax cuts for business are welcome policies which help to create a more conducive environment to attract investment,” Chairman of Medicines Australia, Mr Wes Cook, said.

Predictability in Australian Government policy beyond 2016 is essential to allow our research-based, innovative medicines sector in Australia to effectively plan for the future and continue to invest.

Medicines Australia also welcomes the $20.4 million investment over four years in response to the Medicines and Medical Devices review that will facilitate life-saving medicines coming to the Australian market faster, through removing or streamlining unnecessary or inefficient processes.

For more details, go to: https://medicinesaustralia.com.au/media-release/federal-budget-2016-commitment-to-the-pbs/