Medicines Australia is calling on the Australian Government to recognise the ongoing sustainability of the PBS resulting from reforms introduced in collaboration with the industry, in its submission to the 2015-16 Federal Budget.
Medicines Australia also seeks a commitment to grow the investment opportunities for innovation and research in the pharmaceutical sector, in addition to recognising the broader value of medicines to patients and society.
“The Australian pharmaceutical industry contributes meaningfully to the health and wealth of the nation, however it requires a stable and predictable policy environment to encourage investment, grow and prosper,” its CEO, Tim James, says.
“We call on Government to affirm a commitment to work with industry to maintain a sustainable PBS; recognise the need for predictability for industry; and to provide certainty by ensuring no new unilateral PBS saving measures are introduced in the 2015-16 Budget.”
A decade of PBS reforms are generating billions of dollars in savings and providing headroom to list new products on the PBS, he says.
“What is needed now is a stable PBS policy environment that delivers new and innovative medicines to patients when they need them.
“We also want to explore options for gaining efficiencies in the regulatory and reimbursement systems and optimise investment opportunities for the industry.”
He says Medicines Australia remains committed to working with Government to ensure the long-term sustainability of the PBS and the viability of Australia’s medicines industry.
“Incorporating and reflecting Medicines Australia’s recommendations in the 2015-16 Budget will benefit patients, the Government, and the wider Australian community.”
Medicines Australia’s pre-Budget submission can be found on the MA Website here.