More than 2000 medicine brands preparing to drop price

More than 2000 medicine brands treating common conditions will drop in price for residents in Dunkley from next month – some by as much as 50 per cent or more – with the Turnbull Government delivering a win-win for consumers and taxpayers.

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More than 2000 medicine brands treating common conditions will drop in price for residents in Dunkley from next month – some by as much as 50 per cent or more – with the Turnbull Government delivering a win-win for consumers and taxpayers.

“The Coalition Government is continuing to deliver the largest ever reductions in the price of medicines for consumers across the Pharmaceutical Benefits Scheme,” Chris Crewther MP said.

“Patients in Dunkley will benefit from these innovative reforms, with some people suffering multiple chronic conditions such as osteoporosis, high blood pressure and eye disease set to save as much as $400 per year on their medicine scripts.”

“One-in-three medicine brands on the PBS will be cheaper for some consumers by as much as $20 per script, that’s a great result for patients using those common medicines in our electorate.”

For example, a  non-concessional patient with diabetes, osteoporosis, high blood pressure and gastric reflux who is currently taking:

  • metformin for type 2 diabetes 500mg tablet twice daily;
  • pantoprazole for gastric reflux 40mg tablet daily;
  • alendronate 70 mg + colecalciferol 140 microgram tablet for osteoporosis (as per dosing instructions); and
  • enalapril with hydrochlorothiazide for high blood pressure 20 mg/6 mg tablet daily;

will save up to $34.19 per month on scripts, which equates to a yearly reduction of $410.28.

The October 1 2016 price drops were the latest innovative reform to come into effect from the Coalition’s landmark PBS Sustainability Package, which passed Parliament last year.

More than 80 per cent – or about 1600 – of the 2000-plus brands of medicines set to drop in price would see a direct saving to some consumers. The remaining 20 per cent – those priced above the general PBS co-payment of $38.30 – would see a saving to taxpayers instead.

“In addition to saving consumers real money cash in hand, this innovative Coalition reform will also save taxpayers nearly $900 million over the next four years by ensuring Government isn’t overpaying for medicines either,” Chris said.

“It’s a win-win for taxpayers and consumers in Dunkley and is another example of the Turnbull Government making medicines more affordable for millions of Australians.

“However, as the health needs and costs of Australians continue to increase we still need to continue with our budget repair to protect Medicare and continue subsidising more medicines for current and future generations.

“We must not have a return to Labor days where they blocked new medicines for conditions like asthma, mental health and chronic pain from being listed on the PBS because the ALP could not afford to pay for them.

They come into effect from October 1 2016. Find out more at www.health.gov.au

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