Medicines Australia makes submission to the 2015-2016 federal budget

Trade body Medicines Australia has made a submission to the 2015-2016 Federal Budget, asking the Australian government to recognize the ongoing sustainability of the Pharmaceutical Benefits Scheme (PBS) resulting from reforms introduced in collaboration with industry.

The industry body also seeks a commitment to grow investment opportunities for innovation and research in pharma.

Tim James, chief executive of Medicines Australia, said: “The Australian pharmaceutical industry contributes meaningfully to the health and wealth of the nation, however it requires a stable and predictable policy environment to encourage investment, grow and prosper. We call on government to affirm a commitment to work with industry to maintain a sustainable PBS; recognise the need for predictability for industry; and to provide certainty by ensuring no new unilateral PBS saving measures are introduced in the 2015-16 Budget. A decade of PBS reforms are generating billions of dollars in savings and providing headroom to list new products on the PBS.”