Promise to make medicines cheaper

The Federal Government has promised to make medicines cheaper if re-elected in May, with a script to cost Australians no more than $25 under the Pharmaceutical Benefits Scheme (PBS).
 
Described as a key cost of living measure designed to put downward pressure on inflation, the move comes on top of previous reductions in the cost of medicines, with the largest cut to the cost of medicines in the history of the PBS in 2023.

It represents more than a 20 per cent cut in the maximum cost of PBS medicines, which the Federal Government says will save Australians over $200M each year.
 
Four out of five PBS medicines will become cheaper because of the $689M investment in the Federal budget, to be handed down on March 25.
 
The last time that PBS medicines cost no more than $25 was 2004.
 
Pensioners and concession cardholders will continue to benefit from the freeze to the cost of their PBS medicines, with the cost frozen at its current level of $7.70 until 2030.
 
This builds on action the Federal Government has already taken to relive cost of living pressures through cheaper medicines, including:

• More free and cheaper medicines sooner, with a 25 per cent reduction in the number of scripts a patient must fill before the PBS Safety Net kicks in – $480M (July 2022)
• The largest cut to the cost of medicines in the history of the PBS, with the maximum cost of a script falling to $30, from $42.50 – $624M (January 2023)
• 60-day prescriptions saving time and money for millions of Australians with an ongoing health condition – $165M (three phases from September 2023)
• Freezing the cost of PBS medicines, with co-payments not rising with inflation for all Australians for the first time in 25 years – $9M (January 2025).

If re-elected the Federal Labor Government has committed to pass legislation that will see $25 maximum PBS scripts starting from January 1, 2026.

“As an emergency doctor, I know how important it is that our community can access affordable medicines when they are sick,” Federal Member for Robertson Dr Gordon Reid said.

“Since our changes passed Parliament, our community has saved over $9M on their cheaper medicines.

“Now, we are making medicines even cheaper, ensuring Australians only pay a maximum of $25 for their PBS medications.”

Minister for Health Mark Butler said the last time Australian paid no more than $25 for a PBS medicine was over 20 years ago.

“Cheaper medicines are good for the hip pocket and good for your health,” he said.
 
“When Peter Dutton was Health Minister, he tried to make medicines cost more, not less.
 
“Peter Dutton tried to jack up the cost of medicines by up to $5 a script and put free medicines for sick pensioners even further out of reach.
 
“In opposition, Peter Dutton and the Liberals voted to block cheaper medicines six times
 
“The contrast this election is clear: cheaper medicines with a re-elected Federal Labor Government, or the frankly terrifying legacy of Peter Dutton, who wants medicines to cost more, not less.”