Families will save hundreds of dollars a year for everyday medicines for cholesterol, depression and osteoporosis under changes to pass the Senate this week.

More than 2,000 brands designed to treat Australia’s most common ailments will be slashed in price by up to $22 a script under a shake-up of pharmacy pricing negotiated by Health Minister Sussan Ley.

The changes will take effect from October, 2016 and will complement reforms that allow pharmacists to drop the patient co-payment by up to $1 per script to boost competition.

“This is a significant saving when you start multiplying these discounts over 12 months for daily medications — upwards of $100 to $200 per year for some patients,’’ Ms Ley said.

“In just over 12 months patients could be seeing the price of their everyday medications slashed in half — or upwards of $10 to $20 per script — if our proposed reform package passes the Senate this week. This can mean the difference between someone being able to afford to take their medicines or not, highlighting the importance of this balanced package of reform measures for Australians.”

The Sunday Telegraph has confirmed Labor will support the measures, ensuring the reforms pass the Senate and the savings can be passed on to patients.

The big winners are families that do not qualify for discounts under the Pharmaceutical Benefits Scheme for the drugs and would otherwise pay $37.70 for medicines on the PBS.

For more details, go to: http://www.dailytelegraph.com.au/news/nsw/slashed-drug-prices-could-mean-hundreds-more-for-families-every-year-even-beyond-the-pbs/story-fni0cx12-1227407574230