Pharmacy Daily | Budget funding for vapes to offset loss

THE Budget's $234m vaping reform package has struck the right balance and critically elevated the role of medically prescribed, pharmacy-distributed vapes, Fields Pharmaceutical CEO Wilhelm David has asserted.

He predicts that this prescription model for vapes will now play a far greater, legalised role in addressing Australia's major health challenge of excessive smoking rates.

"This is a proactive, forward-thinking reform by the Federal Government, designed to protect the nation's overall health and well-being," David explained.

"Under the current TGA guidelines, the prescription model for vapes in Australia must be strongly supported by peak medical bodies if we are genuine in seeking further smoking cessation rates in Australia and stamping out the black market.

"Therapeutic dispensing of vaping supports Australia's public health agenda and makes sound commercial sense for pharmacies.

"Australia's pharmacy sector is facing a possible $3.5b in cuts out of this Budget due mainly to the new 60-day dispensing arrangements.

"Industry estimates Australian pharmacy revenue losses through the fully implemented reforms is somewhere between $500m and $900m per annum."

David shared, "there is an opportunity to offset this revenue loss, as well as support the Government's public health agenda, with more proactive support and proper adoption of the prescription model for medically prescribed vaping products.

"With nearly 31,000 GPs, and 5,700 pharmacies, an adult vaper, or someone looking to quit cigarettes, could get wide access to an Australian standard product," David said.

"An adult seeking to quit smoking should not rely upon the black market for therapeutic goods.

"A generational opportunity awaits if local GPs and pharmacies get smoking cessation prescription measures right and this Budget paves the way for this.

"Minister Butler has previously made it very clear that the role and future of vaping is 'therapeutic' not 'recreational'.

"Vaping products were never intended to be sold as recreational products.

"But it requires a collective leadership among manufacturers, peak bodies, and healthcare professionals to lean in and make this happen," David concluded.