PBS $’s misdirected – MA
October 9, 2013
Billions of dollars “pouring
into the Treasury coffers” from
Pharmaceutical Benefits Scheme
reform savings are denying
Australians access to new
medicines, according to Medicines
Australia ceo Brendan Shaw.
Speaking to the Eye for Pharma
Conference in Sydney yesterday,
Shaw described the situation as the
‘Great PBS Detour’.
“The whole point of PBS reform
and price disclosure...was to
use those savings to fund new
medicines for the Australian
community,” he said.
However, currently it appears
that the proceeds of the reforms
“are not being re-invested in
new therapies for the Australian
community,” Shaw added.
Government financial statements
over the last six months have all
revised downwards the future
estimated spending for the
PBS, with the Budget Outcome
statement showing the govt spent
$857 million less on medicines in
2012-13 than was expected just a
few months ago in the May budget.
“The really astounding thing is
that this is happening at the same
time industry frustration with the
PBS listing process is at an all-time
high,” Shaw said, adding that it was
key to make sure that the savings
from price disclosure are being reinvested
in new medicines for the
community, as intended.
“There’s no question the funds
are there to do it.
“The issue is not whether the
PBS is sustainable financially, but
whether it is effectively doing its
job as a major health program that
meets the needs of the Australian
community.”
CLICK HERE for the full speech.
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