From tomorrow, more than 2000 medicine brands treating common conditions will drop in price for millions of Australians – some by as much as 50 percent or more. This is a win-win for consumers and taxpayers.
More than 80 percent of the 2000-plus brands of medicines set to drop in price next month will see a direct saving to some consumers. Millions of Australians will benefit from these innovative reforms, with some people suffering multiple chronic conditions such as osteoporosis, high blood pressure, diabetes and gastric reflux set to save as much as $400 per year on their medicine scripts.
The Turnbull Government is continuing to deliver the largest ever reductions in the price of medicines for consumers across the Pharmaceutical Benefits Scheme. In addition to saving consumers real money cash in hand, this innovative Coalition reform will also save taxpayers nearly $900 million over the next four years by ensuring the Government isn’t overpaying for medicines either.