Pharmacy DailyPharmacy Daily | Low PBS growth

THE growth rate of the Pharmaceutical Benefits Scheme is well below the projected growth rate and “most significantly under control”, according to a statement by the Generic Medicines Industry Association. The Mid Year Economic and Financial Outlook released by the Govt yesterday showed a lower than expected PBS growth rate of 5.2% or 1.6% in real terms. This low growth resulted in a $265m budget reduction in 2011/ 12 driving a total budget reduction of $1.8 billion over four years. In addition budget adjustments announced in the report signalled further savings of $136.3 million over the forward budget projections due to price amendments on the PBS arising from more competitively priced medicines. MEANWHILE Medicines Australia has welcomed the release saying it is “fresh and compelling evidence that the PBS is in good shape”. “The Government’s own figures show that real growth is minimal,” said Medicines Australia Chief Executive Dr Brendan Shaw. “I urge Government to stop and look at this data carefully as it frames the 2012 Federal Budget,” he added. Shaw also said that the report could actually provide a case for increasing investment in the PBS. “If the figures get much lower, there would be grounds for concern that the Government was not investing enough in patient access to medicines,” he said.

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