PBS Medicines Prices to be Slashed Saving Patients in Sturt Hundreds of Dollars a Year

PBS Medicines Prices to be Slashed Saving Patients in Sturt Hundreds of Dollars a Year

02 May 2022

Millions of Australians across the country, including in Sturt will save $10 on scripts with an Australian-first reduction in the price of government subsidised medications.

A re-elected Morrison Government will cut the price of medications listed on the Pharmaceutical Benefit Scheme (PBS) from January 1 next year, as part of an annual $150 million hip-pocket saving for Australians.

The $10 cut per general script means the maximum price Australians will pay for PBS medicines drops from $42.50 down to $32.50. This is the first time that any government has done this.

This price reduction would reduce the cost of common medications including for blood pressure, high cholesterol, arthritis, pain relief, depression, diabetes and more for many local residents.

By delivering a strong economy, we can invest even more in Medicare and making PBS prescriptions more affordable.

Millions of Australians will soon save $10 per script for common medications, which means those taking one medication a month could save $120 a year, or those taking two medications a month could save $240 a year.

Only the Liberal team has a strong record of delivering affordable, life-saving medications for all Australians.

No other Government had reduced the PBS General Co-payment and this change could benefit the more than 19 million Australians without a concession card each year.

In contrast, Labor stopped listing medicines on the PBS in 2011, including medicines for severe asthma, chronic pain, schizophrenia, blood clots, IVF, endometriosis and prostate conditions.

Since 2013, the Coalition Government has approved more than 2,900 new or amended listings on the PBS at an overall investment of around $16.5 billion.

By listing these medications on the PBS, the Coalition Government is ensuring Australians have access to affordable, life saving medications that would otherwise cost thousands, or hundreds of thousands of dollars, without subsidy.

There is a clear choice at this election. Australians can vote for a stronger economy under the Liberal Government, who always delivers affordable medication and cost of living relief, or a weak economy under Labor, who stopped listing medicines on the PBS in 2011 because they cannot manage money.

In the 2022-23 Budget, we invested a further $2.4 billion for new and amended PBS listings including treatments for breast cancer, cystic fibrosis, severe eczema, asthma, spinal muscular atrophy, HIV infection and heart failure.

We also invested over $525 million to make medicines more affordable for 2.4 million Australians by lowering the PBS Safety Net threshold from 1 July 2022 benefiting concession card holders and general patients.

Under the changes, concessional patients will reach the PBS Safety Net with 12 fewer filled scripts. For general patients, it’s two fewer scripts – saving over $80 a year before they are eligible to receive free or further subsidised PBS medicines.

A re-elected Morrison Government will continue our policy to list all medicines on the PBS that are recommended by the Pharmaceutical Benefits Advisory Committee (PBAC).

Only the Coalition has a plan to build a strong economy and a stronger future.