Final Budget outcomes reveal Australian industry efforts to take pressure off PBS

The Final Budget Outcome papers released today reveal the enormous efforts of the members of Medicines Australia to keep expenditure low on the Pharmaceutical Benefits Scheme (PBS) while providing Australians with incredible access to breakthrough medicines.

The Final Budget Outcome for 2016-17 shows that the federal government spent A$13.379 billion ($11.89 billion) on the PBS. However, the final outcome is a gross figure that does not subtract the significant rebates provided by our members through pricing and supply agreements with government.

It’s understood that when these rebates are taken into account the real cost of the PBS continues to remain relatively flat year on year. The rebates are in addition to the recent Strategic Agreement signed between Medicines Australia and the federal government that will deliver agreed price reductions for on-patent medicines totaling A$1.8 billion over five years.