Government commits to PBS, time to unpack the detail
MA welcomes the announcement of $1.4 billion for the listing of innovative medicines on the PBS, as announced in today’s 2018/19 Federal Budget. This will help ensure all Australians have access to new and innovative medicines they need when they need them.
We are encouraged by the $1 billion future listing provision and the Government’s commitment to list all new medicines recommended by the PBAC. We look forward to further discussion on this, and on the revised payment administration systems for high cost medicines.
We know that with new highly targeted medicines coming in through the pipeline, continued investment in the PBS is needed.
The Government has acknowledged the budget is in good shape, now it’s time to see some investment in high value areas such as the PBS and the innovative medicines industry.
A strong PBS not only helps patients, it also supports thousands of medical researchers and jobs and the research-based medicines and health sectors, and encourages investment in medical research in Australia.
Medicines Australia is pleased with the Government’s commitment to research and development within the innovative pharmaceutical sector with the exemption of clinical trials under changes to the R&D Tax Incentive and no intensity threshold.
The Government has also responded to industry’s Pre-Budget submission by budgeting to boost the profile of Australia’s innovative medicines industry internationally through the National Health and Medical Industry Growth Plan.
Medicines Australia notes the new PBS listings announced in the Budget that will provide further important health benefits for patients. This includes Refractory multiple myeloma, relapsing remitting MS, PreP, relapsed of refractory Hodgkin’s lymphoma; $42.5 million over five years 2017-18 for Maternal Pertussis, High dose 65 years plus flu, 12 Month meningococcal ACWY.
There are still unanswered questions arising from the Budget, which we will be working through over the coming days.
Medicines Australia remains committed to working constructively with the Government to deliver a solution that will enable the Government to invest in the PBS so that new innovative medicines can continue to be listed for Australians.
Natalie Wimmer –Communications Manager – 0450 728 660 – firstname.lastname@example.org