Price of common medicines for cholesterol, heart conditions and depression to drop by $10 per prescription



The price of common medicines could be slashed for millions of Australians ”“ potentially saving them over $100 per year ”“ with the Abbott Government striking two landmark deals  benefiting consumers.

Minister for Health Sussan Ley announced the Government had signed five year agreements with the Generic Medicines industry Association (GMiA) and the Pharmacy Guild of Australia as part of a broader package of measures across the pharmaceutical supply chain to be unveiled later today.

In one of the biggest reforms of the Pharmaceutical Benefits Scheme (PBS) proposed in the last decade, the Abbott Government has come to an agreement with GMiA that will significantly reduce the price of generic medicines for patients and taxpayers.

This could see some of Australia’s most common medicines for cholesterol, heart conditions and depression halve in price ”“ in some cases by as much as $10 per script for general patients ”“ saving chronic users upwards of $120 or more each year from October next year.

Ms Ley said the GMiA agreement would also see the Government improve rules around incentives for pharmacists to offer patients the option of cheaper generic versions of medicines, as well as $20 million for a campaign to increase consumer confidence in the use of ”˜biosimilar’ medicines.

The GMiA agreement will also complement measures secured in the Sixth Community Pharmacy Agreement, including a doubling of investment in pharmacy primary care support programmes for patients to $1.26 billion over five years, and the option for pharmacists to offer a $1 discount, per script, on the patient co-payment.

This will particularly benefit concessional patients, who could see the upfront amount they pay drop from $6.10 to $5.10 per script, potentially saving many patients about $40 per year.








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