Medicines agreement inquiry
August 20, 2010
THE Memorandum of
Understanding between Medicines
Australia and the Commonwealth
Government will deliver significant
benefit to taxpayers and
consumers, the Senate Community
Affairs Committee has heard.
Currently in the midst of an
inquiry into the National Health
Amendment Bill which would give
effect to the savings measures in
the MoU, the committee heard this
week from Medicines Australia
which said that savings proposed in
the agreement benefited both the
medicines industry and consumers.
The MoU, announced in the May
budget, is set to deliver a total of
$1.86 billion worth of savings to
taxpayers over five years through
the reduction in the price paid by
the Govt for hundreds of commonly
used off-patent medicines on the PBS.
“This agreement gives pricing
certainty to Australia’s medicines
industry,” Medicines Australia chief
executive Dr Brendan Shaw said.
“Importantly, it will also save the
taxpayer $1.86 billion and will
mean cheaper scripts for patients.
“Hundreds of medicines commonly
prescribed to treat high cholesterol,
hypertension, asthma, cardiovascular
disease, rheumatoid arthritis and
depression will become cheaper for
patients currently paying the nonconcessional
rate,” he added.
MEANWHILE Medicines Australia
also jumped on the election
promise bandwagon, saying it
welcomed the “Coalition’s
statement yesterday that it would
give bipartisan support to the MoU”.
“I strongly encourage all parties
to work together on the resumption
of Parliament to ensure the
enabling legislation is enacted as
quickly as possible, irrespective of
who wins government,” Shaw said.
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