Doubling the investment in innovative medicines will give more Australian patients better access to life-improving medicines.
4 September 2026: Medicines Australia has today released its proposed solutions to increase the number of new medicines available in Australia on the PBS for patients.
This includes doubling the investment in innovative medicines as a proportion of GDP over 10 years. The UK has already taken this action and by committing to this figure, it would ensure Australia remains competitive with the rest of the world.
Medicines Australia is about to begin negotiations for a future Strategic Agreement with the Federal Government and the new report Access Unlocked will form the basis of the advocacy on behalf of the industry.
Access Unlocked identifies the current problems facing medicine access, the consequences for patients of not addressing these problems, and proposed solutions.
Recent Medicines Australia reports Bitter Pill and Access Denied have highlighted that only around 25 per cent of medicines that have been launched globally over the past decade have been reimbursed in Australia, compared to 88 per cent in the United States and 46 per cent in the United Kingdom.
Medicines Australia CEO Liz de Somer said that while the problems with getting medicines listed on the PBS has been an ongoing issue for some years now, the industry wants to provide solutions to government on how to fix an out-dated process.
“The medicines industry in Australia is taking the responsibility to put a number of solutions on the table for government to consider to improve access to life-changing medicines for Australia patients,” Ms de Somer said.
“Access Unlocked is providing government with a real roadmap of how to improve the process of approving medicines for listing on the PBS and importantly, making sure that the system is fit for the future so that we can ensure these innovative medicines continue to arrive on our shores.
“Patients suffering from health issues in Australia are rightfully asking why they can’t access medicines in Australia that they see are being used overseas. We are a wealthy country with a rich history of supporting the PBS and the next Strategic Agreement must deliver for patients.”
On behalf of industry, Medicines Australia has put forward a range of solutions designed to increase investment in F1 medicines, accurately reflect the high value of innovative medicines and reform cost pricing structures that were designed for a system thirty years ago.
The report Access Unlocked can be downloaded here: https://www.medicinesaustralia.com.au/wp-content/uploads/sites/65/2026/09/01726-MA-Access-Unlocked-Report_ACCESSIBLE_FINAL.pdf
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