Department of Health Slashes Prices of PBS Generics

Federal Health Minister Sussan Ley last night announced agreements with the Generic Medicines industry Association (GMiA) and the Pharmacy Guild of Australia which will reduce the price of generic medicines on the Pharmaceutical Benefits Scheme (PBS) and lead to a greater involvement in public health service consultations on the part of pharmacists.

Under the agreement costs of generic medicines for common medicines treating cholesterol, heart conditions and depression will be slashed from October 2016, reducing prescriptions by up to half for certain patients.

It also brings about a stronger relationship between pharmacists and consumers, with the establishment of the Sixth Community Pharmacy Agreement. This is a five year, $1.26 billion investment in pharmacy primary care support programmes for patients and allows pharmacists the ability to further discount scripts.

The Pharmaceutical Society of Australia is pleased with the negotiations between the Pharmacy Guild and the Minister for Health which comes during a difficult period.

“PSA particularly welcomes the doubling in this agreement to $1.26 billion of funding for the provision of patient-focussed professional services,” says National President Grant Kardachi.