The latest analysis of the Pharmaceutical Benefits Scheme undertaken by the Medicines Partnership of Australia shows that PBS expenditure is slowing and remains well under control.
The research should allay any concerns the Federal Government may have about the
sustainability of the PBS.
The analysis shows that PBS expenditure grew by 5.2 per cent in 2010-11, almost half of the average PBS growth for the preceding decade (9.2 per cent).
The 10-year average growth in PBS spending in the last decade (2000-2010) was comfortably the lowest since the 1970s and is trending downwards.
As a proportion of Australian GDP, government expenditure on the PBS has remained steady over the last 10 years, at between 0.6 per cent and 0.7 per cent of GDP. This is below the OECD average of 0.8 per cent of GDP.
According to the Government’s Intergenerational Report, PBS expenditure as a proportion of GDP is likely to remain at 0.7 per cent out to 2020.
The Medicines Partnership of Australia is: The Pharmacy Guild, Medicines Australia,
the Generic Medicines Industry Association, the Self-Medicating Industry Association,
the Pharmaceutical Society of Australia and the National Pharmaceutical Services
Media inquiries: Greg Turnbull 0412 910 261