1 April 2014 - As the 1 April price cuts come into effect for 121 medicines, Medicines Australia reaffirms that the $20 billion in savings from ongoing Pharmaceutical Benefits Scheme price cuts have made the PBS sustainable.

“There is no need for further PBS savings measures in the upcoming Budget, rather we should be looking at ways to improve the process for listing new medicines to treat cancer, diabetes and other diseases,” Dr Brendan Shaw, Medicines Australia Chief Executive, said.

“It is estimated that today’s price cuts alone will save taxpayers at least another $1.5 billion over the next four years, providing ample scope for the PBS to fund new and innovative treatments as they become available.

“The Australian medicines industry needs predictability and stability in policy so that Australians can get the latest safe, effective and cost-effective treatments.

“There are many things about the health system that may keep health ministers awake at night, but the Pharmaceutical Benefits Scheme is not one of them,” Dr Shaw said.

For more details, go to: http://medicinesaustralia.com.au/2014/04/01/price-cuts-mean-pbs-can-afford-new-medicines/