The Albanese government has vowed to reduce the current Pharmaceutical Benefit Scheme (PBS) price cap if elected, from $31.60 to $25, a move that the Coalition has promised to match.
“Cheaper medicines is another way we are helping with the cost of living while putting downward pressure on inflation — our number one focus,” Prime Minister Anthony Albanese said.
The price cap promise from the Albanese government follows complaints about damaging pricing policies from an American industry group who represents pharmaceutical giants including Pfizer and Merck.
“[Australia] penalises legitimate efforts by innovators to protect their intellectual property rights”, the letter said.
Australian Health Minister, Mark Butler appeared on ABC AM radio this morning firmly defending the PBS.
“They call it egregious, Big Pharma in the US, I call it one of the shining jewels of one the world’s best healthcare systems,” he said. “We do not want to go down the path of an American style user pay system”.
The oppositions health spokesperson Anne Ruston said that the Coalition pledges to match the Labor party’s proposed PBS price cap.
“We will lower the PBS co-payment to $25 and continue our longstanding policy of listing all approved and recommended medicines on the PBS — and in a timely manner,” Ruston said.
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