Australia Cuts Prescription Prices Across Therapeutic Areas

Drugs to treat diseases and illnesses like HIV, breast cancer, mental health, eczema, psoriasis and Parkinson’s disease will have prices slashed in a bid to ease the cost of living pressures for millions of Australians.

More than 1100 medicines will have their prices cut from April 1, 2017.

New drugs to be listed on the PBS include those for two rare cancers, Hodgkin’s lymphoma, and an advanced type of skin cancer and treatments for psoriasis, arthritis, schizophrenia and iron deficiency.

Health Minister Greg Hunt said the savings for patients would be “considerable”.

“These reductions are expected to save Australian families $135 million over the next four years and will also deliver estimated savings to taxpayers of $455 million,” Mr Hunt said.

“Part of our rock solid commitment to Medicare is ensuring people have access to medicine when they need it. We are delivering on this promise.”