New report reveals A$3 billion Australian government windfall and confirms PBS is sustainable
According to a new snapshot into the future of the Australian drug funding system, compiled by the Centre for Strategic Economic Studies, the country's Pharmaceutical Benefits System reforms would deliver A$6.4 billion ($5.9 billion) total savings over 10 years - A$3 billion more than the Government's estimate.
Pharmacists are predicted to come out best within the drug sector, with manufacturers projected to lose A$8.13 billion and wholesalers A$591 million. system.
Medicines Australia's acting chief executive Brendan Shaw said the report revealed that PBS growth was much lower than expected, meaning savings to government from last year's PBS reforms would be much higher than expected. 'The CSES report shows very clearly that the 2008 PBS reforms are working and that the PBS is now sustainable," Dr Shaw said.
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