THE Federal Government's commitment to improving the health of Australians as part of the nation's COVID-19 pandemic recovery through investments guaranteed funding for new Pharmaceutical Benefits Scheme (PBS) listings, is being welcomed by Medicines Australia.
Responding to last night's Federal Budget, Medicines Australia CEO, Elizabeth de Somer, backed a number of measures aimed at protecting the health of Australians and the economy, announced by Treasurer, Josh Frydenburg.
"The linkages between our health and productivity have never been clearer, with the Government's announcement of the new medicines funding guarantee, worth at least $2.8 billion over four years, starting immediately and at the same time, removing the requirement for cost offsets for new medicine listings on the PBS," she said.
"This is going to allow for medicines to be listed faster, without the need to find additional savings from other critical health areas."
de Somer also backed the Government's $12 million investment to modernise the Therapeutic Goods Administration's business systems to streamline processes for the pharmceutical industry and reduce red tape for new medicines.
Federal Health Minister, Greg Hunt, also announced the Government will "complete new long-term agreements with Medicines Australia and the Generic and Biosimilar Medicines Association to commence at the expiry of the current agreements to 2022", as part of the planned $467 billion health and aged care Budget over the forward estimates.
"These agreements, to be finalised over the coming months, will help ensure continued access to new medicines for patients and provide certainty for the medicines industry and incentives to invest in Australia," Hunt said.
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