PBS Price Reductions
December 20, 2011
The first few months of 2012 are
shaping up as a critical period for the
operation of community pharmacy
businesses.
Last week the Guild received official
notification from the Department of
Health and Ageing of the PBS price
reductions which will take effect on 1
April 2012 due to the expansion of
price disclosure.
The reductions have prompted
considerable comment, and will have
an impact on all pharmacies.
The expansion of price disclosure
resulted from the Memorandum of
Understanding (MOU) which was
negotiated between Medicines
Australia (representing drug
manufacturers) and the Commonwealth
Government, signed in May 2010.
The MOU expanded price disclosure
from around 40 molecules to include
all drugs listed on the PBS that have
more than one manufacturer.
The Guild has allocated considerable
resources to provide support and
advice to members in preparing for
the changes brought about by the
MOU, including a series of information
sessions held across Australia.
Other price reductions are also likely
to occur in April. On 1 April 2012, the
largest molecule on the PBS, atorvastatin,
will come off patent and see new
generic market entrants. This molecule
will begin its price disclosure process
with a 16% price drop, effective 1 April.
Information on 1 April 2012 price
reductions will be provided in the
normal timeframe of 4 to 5 weeks
before implementation.
The above article was sent to subscribers in Pharmacy Daily's issue from 20 Dec 11To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 20 Dec 11
