Medicines Partnership of Australia
For the PBS to be able to continue to provide Australians with access to subsidised medicines, both new and existing, while growing at less than the rate of inflation is an extraordinary achievement.
As the medicines industry moves through a time of significant change, pricing and policy predictability will be paramount for the sector.
The latest analysis of the PBS expenditure undertaken by the Medicines Partnership of Australia using Medicare Australia data shows that growth in government expenditure on the PBS in 2011 was 2.4 per cent.
Low growth is likely to continue as another major round of PBS reform price reductions on more than 200 medicines is due to take effect on 1 April 2012.
Given the inflation rate in 2011 was 3.1 per cent, it suggests that Government spending on the PBS in 2011 actually fell in real terms.
For more information, please click: