Medicines Australia welcomes today’s Mid-Year Economic and Fiscal Outlook (MYEFO), announced by Treasurer the Hon Josh Frydenberg MP.  The announcements today demonstrate much needed investment into the innovative medicines that Australian patients need, with $1.4 billion in new and amended listings on the Pharmaceutical Benefits Scheme (PBS).

Medicines Australia welcomes the new and amended listings announced since the 2018-19 Budget. These new listings are improving access to medicines, including a listing on the Life Saving Drug Program, for patients with the genetic condition Fabry Disease and the provision of $51.8 million over four years to list new vaccines against the A, C, W & Y strains of Meningococcal bacteria and greater access to flu vaccines for indigenous children through the National Immunisation Program (NIP).

Medicines Australia’s CEO Elizabeth de Somer said: “I see this MYEFO as a clear signal that the Government recognises the extraordinary value and importance of investing in the innovative medicines sector to improve people’s lives.”

Medicines Australia also welcomes the demonstration of Minister Hunt’s ongoing commitment to the 2017 Strategic Agreement with the provision of $63.9 million over four years to streamline the listing processes for the PBS and NIP and to amend cost recovery arrangements.

“Improving the process for listing medicines on the PBS will mean faster access to the medicines that Australians need, when they need them. The Government has recognised that the Department must be adequately resourced to ensure that Australians have timely access to the newest medicines. This will ensure Australia is at the forefront when it comes to providing Australian patients with the best treatments available, said Ms de Somer.

$61.7 million over four years has also been provided for the revised PBS payment arrangements commencing on 1 July 2019. This includes $27.1 million over four years to the Department of Health to implement necessary administrative processes and continue to work with industry on the detailed design of the new payment arrangements.

“It is important to see that the Morrison Government has set aside funding and reiterated its commitment to work with the industry on proposed changes to the payment arrangements. This is a difficult and complex reform and it will be important to ensure that any changes do not add to the cost of medicines distribution and supply,” she said.

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More information – Natalie Wimmer – Manager, Media and Communications – 0450728660 | nwimmer@medaus.com.au

Medicines Australia welcomes today’s announcement by Minister for Health, the Hon Greg Hunt MP on the MOU between Australia and the Texas Medical Centre (TMC).

Liz de Somer, CEO of Medicines Australia said: “The historic partnership will enable Australian medical researchers to extend their knowledge at the world’s largest children’s and cancer hospital.

“The experience that this will provide Australian medical researchers in emerging fields like genomics, will undoubtedly translate to knowledge sharing back to Australia,” said Ms de Somer.

“Knowledge sharing is a critical element of success for the innovative pharmaceutical industry in Australia. We are a global sector, and by tapping into international resources, we develop the skills of the Australian workforce, boost the economy and provide up and downstream linkages to other sectors.

“A recent report commissioned by the Association of Australian Medical Research Institute (AAMRI) found that for every dollar invested in medical research, $3.90 is returned to the Australian economy.

“This astronomical return on investment is tangible proof that focusing on the research capabilities of Australian scientists – like the MOU with the Texas Medical Centre- will pay dividends.

“Most importantly however, international alliances like the MOU with the TMC, help to deliver new medicines to Australians faster through faster access, and more clinical trials.

“I commend the Government’s commitment to ensuring Australia remains a global leader in scientific innovation,” said Ms de Somer.

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More information – Natalie Wimmer – 0450728660 – nwimmer@medaus.com.au

A new report finds health strategies applied early can recover $1.9 billion in superannuation and $3.9 billion to the economy

• $20.8 billion in superannuation is lost from early retirement due to ill health
• Individuals forced to retire early lose up to $142,100 in superannuation
• Overall impact of early retirement from illness on gross domestic product (GDP) is $45.3 billion

Canberra, Monday 17 September 2018: A unique report launched today has found a staggering $20.8 billion is being lost in superannuation each year due to early retirement from ill health, at a cost of $45.3 billion to GDP. Findings also show implementing effective health strategies for those at risk of early retirement due to ill health, including medicines, has the potential to recover $1.9 billion in super and return $3.9 billion to the economy.

“Our Health Our Wealth: The Impact of Ill Health on Retirement Savings in Australia” is being launched today at Parliament House, Canberra as part of Medicines Australia’s PharmAus18 annual symposium of the health industry.

“What’s clear from this report is early retirement due to ill health is not only hard on individuals, their families and carers, it also hurts the Australian economy,” states Professor Bruce Rasmussen, Director of Victoria University’s Institute of Strategic Economic Studies (VISES) and lead author.

The ageing population presents significant challenges from a health perspective; adding in early retirement from illness places even greater pressure on this inevitable dynamic. The OECD estimates the number of individuals aged 65 years or older relative to those of prime working age (20–64 year olds) is projected to increase across the OECD from 24 per cent in 2005 to 52 per cent in 2050.

The McKell Institute Report found those retiring early (aged 50–54) due to ill health lose up to $142,100 in super – comprising $118,600 in balances foregone and $23,500 in funds withdrawn. The losses are greatest for those retiring at an early age, but even for those retiring in their early 60s, the losses are estimated to be significant. The economic impact of ill health resulting in early retirement is estimated to be $45.3 billion of GDP and is expected to rise to $53.4 billion by 2025.

Conducted by a research team led by Professor Bruce Rasmussen at VISES, the report analysis involved a wide range of data sources from the Australian Bureau of Statistics (ABS) Household Income and Labour Dynamics in Australia (HILDA) survey.

The report estimates close to 300,000 more Australians aged 50–64 would be working if they could be moved from a poor/fair to good/excellent health status.

“Early retirement due to ill health imposes a significant economic cost, almost 4.5 times government expenditure on the Pharmaceutical Benefits Scheme in 2016–2017,”adds Liz de Somer, CEO, Medicines Australia. “It’s very important to consider ways to address this and take action while illness may be more manageable, to retain a person’s ability to function effectively and remain in the workplace” she added.

Health strategies to delay early retirement

Health conditions associated with early retirement include psychological/psychiatric illness – depression and anxiety notably, and musculoskeletal and connective tissue conditions including osteoarthritis, osteoporosis, neck and back problems.

Strategies for those 45 years or over, with psychological or psychiatric conditions (including depression and anxiety) could see the number of Australians seeking early retirement reduced by 19,325 and the cost to the economy reduced by about
20 per cent ($16.3 million).

The report also found that more effective treatment programs and medications for those at risk of early retirement from musculoskeletal and connective tissue conditions, would reduce the number of people retiring early by 8,734 and generate $9.4 million in cost savings.

The total combined economic benefit of addressing these conditions would be
$3.9 billion in annual economic benefit and $1.9 billion in the reduction of lost super.

“Advances in healthcare promise to change the management of disease in the future – particularly the development of new medicines for more difficult to treat illnesses such as cancer, dementia and other neurological conditions,” Liz de Somer adds. “These findings clearly indicate there’s much to be gained in keeping Australians healthy.”

Issued by CUBE on behalf of Medicines Australia. For further details please contact Anne-Marie Sparrow on 0417 421 560 or Alexandra Suvajac on 0419 128 099.

More on the Report:  ‘Our Health, Our Wealth: The Impact of Ill Health on Retirement Savings in Australia’ Report is supported by an unconditional grant provided to The McKell Institute by Medicines Australia.

The Victorian Institute of Strategic Economic Studies (VISES) were engaged by The McKell Institute to conduct the research and author the report. Authors include: Professor Bruce Rasmussen – Director of Victoria Institute of Strategic Economic Studies (VISES) at Victoria University; Dr Kim Sweeny – Principal Project Officer;

Alison Welsh – Research Fellow; Neelam Maharaj – Research Fellow

The report set out to quantify the impact of forced retirement due to ill health on individual financial prospects, together with the economic impact on GDP. It also generated actionable recommendations on how to reduce the prevalence of illnesses causing early retirement, improving the financial security of Australia’s retirees and the health of Australia’s economy.

Three core areas were reviewed:

• Current and future economic impact of early retirement due to ill health on GDP
• Impact of forced early retirement on an individual’s financial prospects
• How reducing rates of illness can help reduce the prevalence and economic impact of forced early retirement

Click here to read the report.

Medicines Australia (MA) is pleased to announce the release of the fifth biannual innovative medicines industry’s transfer of value data for nurses, doctors and other healthcare professionals.

The reports have been published on member companies’ websites today.

Medicines Australia and its members are leading the way in providing greater transparency for consumers, said MA CEO Liz de Somer.

“We have voluntarily submitted ourselves to this significant transparency disclosure because we are proud of the role we play in educating medical practitioners and consumers. This is despite the fact that non-Medicines Australia members are not required to abide by the same rigorous code of conduct,” said Ms de Somer.

In addition to our own code of conduct, MA member companies abide by the new “Australian Consensus Framework for Ethical Collaboration in the Healthcare Sector”.

This is a government-supported, sector-led initiative that has been developed collaboratively across the entire healthcare sector to describe the values and ethical principles that should form the basis of collaboration and interaction among organisations within our sector.

“By supporting ongoing education like attending symposia and conferences, companies are providing healthcare professionals with the opportunity to learn about the latest in life-changing therapies,” said Ms de Somer.

“The reported payments also cover consultancy fees for services such as the professional development of information to help patients understand their medicines and achieve better health outcomes.

“So not only are we helping to educate doctors, we’re also playing a key role in helping patients take their medicines safely and improving the quality use of these medicines,” said Ms de Somer.

Further information about the transparency requirements of the MA Code of Conduct and hyperlinks to each member company’s reports are available here.

MA encourages consumers to talk to their doctors if they would like to know more about their relationships with different companies and the benefits to patient health.

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MORE INFORMATION: Natalie Wimmer – Communications Manager – 0450 728 660 – nwimmer@medaus.com.au

Medicines Australia welcomes today’s announcement by Minister for Health, the Hon Greg Hunt MP on the establishment of an expert panel for the Live Saving Drugs Programme (LSDP).

The LSDP currently provides subsidised access to patients with rare and life-threatening conditions to specialist medicines.

Changes to the LSDP – including the establishment of an expert panel – stem from an agreement the Government reached with Medicines Australia in January 2018, on behalf of medicines companies, to improve the administration of the programme.

Liz de Somer, CEO of Medicines Australia congratulates the panel on their appointment.

“Dr Hobbs, as Chair of the LSDP Expert Panel brings a wealth of experience to the role. His experience as Deputy Chief Medical Officer in the Department of Health and as Chair of the External Reference Group that developed Australia’s first national Primary Health Care Strategy – make him an ideal leader.

“Medicines Australia would also like to congratulate the other members of the six-member panel, including clinical experts Professor Jonathan Craig and Professor Elizabeth Elliott, health economist Adjunct Professor Jim Butler and consumer nominee Nicole Millis from Rare Voices Australia.

“The panel includes an industry nominated representative – Liliana Bulfone, who will ensure important industry factors are taken into account.

“The breadth of experience this panel possesses will ensure the ongoing support and evaluation of medicines and funding through the LSDP.”

“The LDSP reforms and Expert Panel will help bring certainty to a very important area of medicines access,” said Ms de Somer.

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More information – Natalie Wimmer  – Communications Manager – 0450728660 – nwimmer@medaus.com.au 

Medicines Australia, representing Australia’s innovative medicines industry, welcomes yesterday’s announcement of the Ministry under the new Prime Minister, the Hon. Scott Morrison MP.

In particular, said Medicines Australia CEO, Liz de Somer, we congratulate the Hon Scott Morrison on becoming Australia’s 30th Prime Minister.  As Treasurer, the Prime Minister demonstrated the importance of the right economic settings to ensure funding is available to list new medicines. We look forward to working with the Hon Josh Frydenberg as Treasurer to ensure Australians continue to receive these benefits.

“Medicines Australia also welcomes the return of Minister for Health, the Hon Greg Hunt MP. Minister Hunt has been a strong and effective advocate for our industry, and we are pleased that we will continue to work with the Minister whose priority is listing life -changing medicines for all Australians,” said Ms de Somer.

“Minister Hunt’s commitment to continuing to lead the portfolio of health provides the sector with welcome stability for the remainder of the Government’s term as we seek to ensure the same for the policy environment.

“We extend our congratulations to Senator Simon Birmingham on his appointment to the portfolio of Trade, Tourism and Investment. Senator Birmingham’s solid position on the importance of open trade pathways with the rest of the world is essential not only to grow the pharmaceuticals industry in Australia, but also to ensure our breakthrough medicines reach the rest of the world.

“We would also like to welcome the Hon. Karen Andrews on her appointment as Minister for Industry, Science and Training and we look forward to demonstrating the pivotal contribution that the Medicines Industry makes to Australia.

“Medicines Australia appreciates the opportunity to work with the new Ministry led by Prime Minister Morrison to ensure we have the right policy settings in place to provide certainty not only for this fast-moving sector as it continues to provide very significant advancements in medicines but most importantly ensuring Australians that need them most mreceive them in a timely manner.

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More information – Natalie Wimmer – 0450728660  – nwimmer@medaus.com.au

The Medicines Australia Board is pleased to announce that Dr Anna Lavelle has been appointed as Independent Chair of Medicines Australia, effective immediately.

Dr Lavelle joined the Medicines Australia (MA) Board in January 2017 as its first Independent Director and has brought a wealth of knowledge, as well as a refreshing viewpoint and governance expertise to the Board.

Since her appointment, Dr Lavelle has acted as Deputy Chair of the Board and is also Chair of the recently established Independent Advisory Council.

Outgoing Chair of MA, Mr Wes Cook welcomed the appointment.

“Dr Lavelle is an extremely well-credentialed and experienced Board Director as well as an exceptional leader. During her time on the MA Board, Anna has proven to have a thorough understanding of the bio pharmaceutical and medical technology sectors and has established strong relationships with stakeholders from across the health sector,” said Mr Cook

“With the strong support of both the Board and the Executive, I have no doubt Anna will be a great leader for the organisation and with a clear focus on the interests of patients, will continue to deliver on the strategic priorities for our industry,” he added.

Dr Lavelle, the first female Chair of MA, welcomed the opportunity to take on the position of Chair of Medicines Australia.

“I have valued the experience of working with MA Board members over the last 18 months and believe that we are well positioned to be an effective and collaborative industry association,” said Dr Lavelle.

“The establishment of the Independent Advisory Council and new executive leadership, provides MA with a unique opportunity to demonstrate the value of the pharmaceutical sector to the broader economy and to the delivery of health outcomes. It is an exciting time in healthcare as hard won and highly effective breakthrough treatments are challenging how we view healthcare delivery.

“I look forward to working closely with the Board, members, Executive and key stakeholders groups to ensure the factors which positively impact outcomes for patients are optimised,” said Dr Lavelle.

Medicines Australia CEO, Elizabeth de Somer said: “I am thrilled to have the opportunity to work alongside Dr Lavelle and to represent the first female leadership team for Medicines Australia,”

“I would also like to thank Wes Cook for his hard work and dedication over the past 3 years as Chair. His contribution to promote the sector and lead our Board in a considered and collaborative way is recognised and acknowledged across our industry and stakeholders.

“Our vision and renewed focus for MA and the industry is tightly aligned. It will be a great pleasure to work together with Dr Lavelle, and the Board, on building the future path for MA,” said Ms de Somer.

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More information, biographies or pictures, please contact Natalie Wimmer – 0450728660 nwimmer@medaus.com.au

Medicines Australia is delighted to announce the signing of the Australian Consensus Framework for ethical collaboration in the healthcare sector.  Medicines Australia has been a foundation collaborator in the development of the consensus framework.

Launched today in Tokyo, at the 2018 APEC (Asia Pacific Economic Cooperation) Business Ethics for Small and Medium Enterprises Forum, the framework has been endorsed by the Federal Minister for Health the Hon. Greg Hunt MP as well as state and territory health ministers, and has been jointly signed by over 50 other peak health-related bodies in Australia.

Medicines Australia CEO Elizabeth de Somer said: “The healthcare system in Australia is a complex ecosystem, with many, many participants delivering healthcare to Australians.  The Australian Consensus Framework for Ethical Collaboration describes our shared commitment to ethical conduct amongst organisations in the health care sector.”

“By working with our stakeholders and the wider health care community, we have developed a sound framework that promotes transparency, cooperation and ethical conduct.” said Mrs de Somer.

“It’s wonderful to see so many organisations co-operate to clearly articulate how the work they do together will always put the best interests of patients first and foremost,” said Mrs de Somer.

The Consensus Framework for Ethical Collaboration in the Health Sector is available online.

Ends- More information – Natalie Wimmer – 0450 728 660

Last week saw the listing of ERLYAND^® (apalutamide) for the treatment men with non-metastatic (castration-resistant) prostate cancer.

As part of the implementation of recommendations from the Review of Medicines and Medical Devices Regulation (MMDR) the TGA has introduced a priority review pathway designed to speed up the review and approval of certain medicines. This joins many other countries in meeting regulatory best practice to ensure that Australian patients can get access to the medicines they need, when they need them.

The evaluation of ERLYAND^® included a unique joint initiative between Australian and Canadian Health regulators which saw the evaluation process completed in less than half the time it normally takes for a new medicine to be approved in Australia.

The collaborative pathway provides a predictable and transparent mechanism to formalise the expedited process for sponsors of new medicines and is indicative of the Government’s genuine commitment to accelerating approval of new, innovative therapies for Australian patients.

The TGA and Department of Health have shown a long-standing commitment to ongoing policy reforms.

Medicines Australia congratulates both Departments on their quest to modernise their process through flexibility and updated processes, thus providing rapid access to new medicines for Australians.

The success of this first priority review marks another significant milestone of the MMDR, which identified ways to improve access to therapeutic goods for patients and remove unnecessary red-tape for industry whilst maintaining the safety of therapeutic goods in Australia.

A number of these reforms required legislation and the TGA, the Department of Health and both sides of Parliament have worked collaboratively and constructively to ensure that the legislature was drafted and passed efficiently.

Medicines Australia looks forward to seeing further examples of how the priority review pathway programme can mean Australians have faster access to breakthrough medicines.

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More information – Natalie Wimmer – 0450728660 | nwimmer@medaus.com.au

Medicines Australia welcomes the introduction of the Therapeutic Goods Amendment (2018 Measures No. 1) Bill 2018 into the Parliament today.

This legislation is the culmination of working together with the sector to review the issue of medicines shortages in Australia. The Medicines Partnership of Australia and a broader group of stakeholders, led by the Therapeutic Goods Administration have developed a comprehensive protocol, which is being implemented through this legislation.

This legislation will go a long way to ensuring there is timely and relevant information available on the supply of medicines, which will assist patients and their doctors (and other health care providers) to manage their treatment plans to receive uninterrupted care.

Minister Hunt’s approach for sponsors to report information about those shortages that are of particular impact on patients, so that prompt action can be taken to address the needs of affected patients, is sensible and factors in the diverse needs of the supply chain. The legislation takes a balanced approach by focusing on the overall situation for a medicine’s availability in Australia.

Medicines Australia is proud of our sector for working together to develop a mandatory reporting scheme for medicine shortages and to better address the public health implications associated with medicine shortages in Australia.

Medicines Australia, and the innovative medicines industry looks forward to the implementation of the legislation, and also working with the Government and the broader sector to reviewing the causes of shortages with an aim to minimise or avoid supply interruptions in the future.

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More information – Natalie Wimmer – nwimmer@medaus.com.au – 0450728660