7 April 2016 - Earlier this week, pharmaceutical companies across the country received a substantial financial penalty, as the federal government’s Pharmaceutical Benefits Scheme cost-saving agenda took effect.

Under this plan, expected to save the government around $3.7 billion over the next five years, all branded medicines listed on the PBS for five years or more will be available to the government at 5 per cent less than the originally agreed reimbursed price.

While taxpayers will see a difference in the price of many high-volume generics under this plan, the 5 per cent price reduction to prescribed specialty branded medicines will not result in taxpayers seeing any difference at the pharmacy counter.

That’s because a patient’s co-payment will remain the same regardless of what the government pays for the specialty medicine.

For more details, go to: http://www.heraldsun.com.au/business/pbs-price-cuts-cruel-pharm-innovations/news-story/075ad080dab4e880247bc59f0e05bcb9