Call for PBS stability – MA
September 23, 2015
Medicines Australia (MA)
is calling for stability in policy
settings for the pharmaceutical
industry, following the release
of a government document this
week which confirms that the
PBS is growing at a sustainable
rate.
MA ceo Tim James said policy
reforms are successfully putting
downward pressure on PBS
expenditure, according to the Final
Budget Outcomes 2014-15.
Forecast PBS expenditure has
been continuously revised down,
year on year since 2011, James
said (see graph), with the final PBS
outcome $2.56 billion below the
original forecast in 2011 and still
$285m below the May 15 budget.
“These figures confirm that the
PBS is on a sustainable path,” said
James.
“The further $6.6 billion of
reforms announced in this year’s
Budget will continue to drive PBS
spending down,” he predicted.
James argued that the ongoing
changes to PBS policy make
it difficult for creators and
manufacturers of medicine to
invest in Australia with confidence.
“A period of policy stability would
allow the industry to work with the
Government to realise the potential
of the local innovative medicines
sector,” he said.
The pharmaceutical industry
spends around $1b a year on
research and development
and clinical trials in Australia
and is looking for collaboration
opportunities.
“If we bring stability to the
medicines sector, it would not only
help Australians to live long and
healthy lives, but also help support
thousands of jobs in universities,
hospitals, research centres and
biotech companies,” James said.
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