Statins to experience further price disclosure hit
A number of the most commonly used medicines are going to experience additional price drops in the newly released October price disclosure cycle.
Highly prescribed statins such as atorvastatin (Lipitor) and rosuvastatin (Crestor) are included in this round of reductions.
Released on Monday, the October round of cuts will see price reductions on a range of the most costly items in terms of overall PBS expenditure.
Among the items impacted are:
- Atorvastatin – to drop by 30%
- Famciclovir – down 20%
- Fentanyl – 16%
- Candesartan – 17%
- Montelukast – 31%
- Perindopril – 17%
- Pioglitazone – 26%
- Rosuvastatin – 21%
- Simvastatin – 15%
- Telmisartan – 25%
- Topiramate – 26%
In total 293 medicines are included in the reduction. The largest reduction is an 82% drop for the anthracycline chemotherapy drug epirubicin.
The 2016 October Cycle is the first price disclosure cycle to incorporate the ‘Removal of Originator Brand Data’ measure and the second cycle to incorporate the ‘Flow-on Reductions for F2 Combination Items’ and the ‘No Reduction Items – Low Volume / Low Discount’ measures.
The first of these measures sees the originator brand removed from the calculation of the weighted average disclosed price after six cycles.
Around 200 medicines in the October cycle have had their originator brand removed from the price calculation.
However, according to pharmaceutical industry newsletter Pharma Dispatch some industry sources say there are anomalies in the list.
Final prices for 1 October 2016 (including all price to pharmacy, Dispensed Price for Maximum Quantity/Amount and price premiums) will be available from early September 2016, the TGA advises.
Click here for the full list of affected medicines.