The 2016-2017 Federal Budget confirms that the Pharmaceutical Benefits Scheme is stable and will continue to ensure Australian patients have access to safe, effective medicines following years of significant reforms in the sector.
The shared hard work of industry and successive governments to implement reforms to the PBS since 2007 has made a significant contribution to the fiscal challenge.
The Medicines Partnership of Australia (MPA) is an alliance of peak industry associations representing key members in the supply chain that deliver medicines and pharmacy expertise to Australian consumers. Its members are Medicines Australia, the Australian Self Medication Industry, the National Pharmaceutical Services Association, the Pharmacy Guild of Australia, the Pharmaceutical Society of Australia (PSA) and the Generic and Biosimilar Medicines Association.
This year’s Budget contains no surprises for the sector, with government investment in the PBS over the forward estimates largely in line with previous forecasts.
A predictable business and investment environment for the medicines industry and supply chain allows us to get on with the critical business of researching, manufacturing, supplying and dispensing safe, effective medicines to Australian patients, representing strong value for money for taxpayers.
The implementation of the latest reforms through the PBS Access and Sustainability Package in 2015 have resulted in significant changes to the costs of medicines for government. These changes have ensured that the PBS will remain fiscally affordable and sustainable into the future.
While the 2016-17 Budget has not included extra cuts to the PBS, further predictability and certainty remains critical beyond 2016 not only for the sector but for all Australians who rely upon the PBS for affordable access to treatments.
The Medicines Partnership of Australia is: The Pharmacy Guild, Medicines Australia, the Generic and Biosimilar Medicines Association, the Australian Self-Medication Industry, the Pharmaceutical Society of Australia and the National Pharmaceutical Services Association.
Greg Turnbull – 0412 910 261
James Boyce – 0423 239 265
Marie Kelly-Davies – 0408 256 381
Brad Watts – 0487 922 176