Intergenerational report: Faster access to new medicines must be part of the solution

25 August 2023: The sixth Intergenerational Report released by Treasurer Dr Jim Chalmers highlights the need to modernise Australia’s healthcare system to sustainably meet Australia’s care and support needs into the future. 

In addition to the foreshadowed reforms to Medicare, aged care and NDIS, Australia needs a stronger PBS so that patients have faster access to modern medicines.  

“Reducing the burden of disease and improving quality of life for thousands of Australians will help to alleviate the forecast rise in hospital and MBS costs and productivity decline,” Medicines Australia CEO Liz de Somer said. 

“Over the coming decades, Australia faces a decline in productivity and increased pressure on the healthcare system driven by the realities of an ageing population and growing NDIS. This is not new information and now is the time for us as a nation to take a hold of this challenge together to drive higher levels of productivity,” Ms de Somer said.  

“Innovative medicines, vaccines and medical technologies will be a crucial part of the solution to keep people healthy, out of hospital and actively engaged in society for as long as possible.”    

“This will require our PBS to be fit for purpose to ensure Australians have access to new medicines as they become available, and to attract investment by the pharmaceutical industry into our market.” 

“Industry has done the heavy lifting needed to control PBS growth that was flagged in earlier IGRs as a concern. We have flat PBS growth and an ageing population.”  

“We need policy focus on our PBS and investment in strengthening faster access to new medicines today, to better position Australia for the next 40 years.”  

Medicines Australia and the pharmaceutical industry will continue to work with Government to strengthen the PBS and realise the productivity benefits of access to innovative medicines. 



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