MA welcomes passing of PBS Amendment Bill

Medicines Australia welcomes the passing of the PBS National Health Amendment (Pharmaceutical Benefits – Budget and Other Measures) Bill 2017.

This Bill amends the National Health Act to implement measures negotiated with Medicines Australia on behalf of the innovative pharmaceutical industry and announced in the 2017 Budget.

Medicines Australia Chief Executive Mr Milton Catelin said: “This Bill, and the Strategic Agreement that underpins it, represents two years of consultation with industry, government and the wider sector to ensure that cost savings are delivered by industry, into the PBS”

“This serious contribution by the innovative pharmaceutical industry is just one way we provide incredible value to the taxpayer, said Mr Catelin.

“Through the agreement we will deliver savings to the Pharmaceutical Benefits Scheme (PBS) of around $1.8 billion over the five-year term of the agreement,”

“It similarly, enables the Government to continue its commitment to list all medicines with a positive recommendation – a win for Australians who need access to breakthrough medicines.”

“While the passing of this Bill enables implementation of legislation to support the Strategic Agreement, it also reaffirms the joint commitment to the benefits of the agreement that aren’t legislative,” said Mr Catelin.

“This includes the importance of policy stability for the innovative medicines sector, ongoing consultation on processes that have an impact on their businesses, reaffirms that changes are transparent and accountable and that implementation timeframes are considered,”

“This Bill, and its supporting Strategic Agreement are an essential way we contribute to the healthcare system in Australia. Now that they are locked down, it’s important that Government, and the departments work with the wider industry to ensure that the PBS remains well-funded so that medicines can continue to be provided to all Australians,”

“Medicines Australia thanks the Government, Health Minister Greg Hunt and Shadow Health Minister Catherine King for their bipartisan support of this Bill and for their support of the innovative medicines industry,” said Mr Catelin.

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More information – Natalie Wimmer – Communications Manager, Medicines Australia
Ph: 0450728660 –