Industry welcomes Coalition commitment to PBS
Medicines Australia today welcomed the Coalition’s commitment to restore transparency, predictability and confidence to the process by which medicines are listed on the Pharmaceutical Benefits Scheme (PBS).
“A predictable, transparent and collaborative environment is critical to the future of the medicines industry in Australia”, said Medicines Australia Chief Executive Dr Brendan Shaw.
“Medicines Australia has been calling for years for the restoration of confidence in the independence and integrity of the Pharmaceutical Benefits Advisory Committee (PBAC) that is why we are backing today’s announcement.
Submissions of new medicines are receiving multiple rejections and delays, industry frustration is high, and the number of new molecules being listed is at 20 year lows.
“Medicines Australia particularly welcomes giving the Health Minister authority to list medicines that do not cost more than $20 million in their first four years. This measure has the potential to significantly streamline the listing process,” Dr Shaw said.
“It is vitally important that Australian patients can have confidence that they will continue to be able to access the latest scientific breakthroughs.
“Measures to accelerate clinical trial reform are also very welcome and have the potential to make tangible benefits to patients”.
As Medicines Australia outlined in its election priorities there is much to do including:
- Urgently sitting down and examining the unintended consequences of the August 2 price disclosure changes with affected stakeholders
- Applying procedural fairness, effective stakeholder consultation and consistent management to PBS post-market reviews
- Drive savings in the off-patent F2 market with pricing based on market competition and invest those savings into the on patent F1 market for new medicines
- Ensuring that the PBS is fit for purpose for the next generation of highly targeted medicines and an ageing population
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