Government announces price cut for major medications

Posted: 28 September 2018 10:10 am
News

Consumers and taxpayers will save more than $344 million on medications from 1 October.

In what will come as welcome news to many Australian families, the government has announced that it will be cutting the everyday costs on a total of 24 medicines on 1 October 2018. The government says these changes should help everyday Aussies save money.

"The price drops will save consumers and taxpayers more than $344 million, delivering cheaper medicines for patients and more support for listing more new medicines on the PBS," Minister for Health Greg Hunt said in a statement.

If you're one of the roughly 200,000 patients per year that take pregabalin to treat your neuropathic pain, you can expect to save $6.12 on your script with a price drop from $39.94 to $33.38 per script. If you use valsartan with hydrochlorothiazide to treat your hypertension, you'll save $2.18 per script, with prices for the drug dropping from $26.14 to $23.96. And if you take dorzolamide for your glaucoma, you'll now pay $19.18 for your eye drops versus $22.20, a savings of $3.02 per script.

The drug with the largest price drop was bosentan, which is used in the treatment of pulmonary artery hypertension (PAH) and sees its cost fall from $2,342.72 to $1,583.85 for 60 125 mg (as monohydrate) tablets. That's a savings of $758.87.

While the amount you'll save will depend on the strength and quantity of the medication, any medicine containing the following can expect to see savings:

  • Nicorandil
  • Pregabalin
  • Dorzolamide
  • Capecitabine
  • Oxycodone
  • Dorzolamide with timolol
  • Valsartan with hydrochlorothiazide
  • Frusemide
  • Adefovir
  • Azacitidine
  • Bleomycin
  • Bosentan
  • Entecavir
  • Eplerenone
  • Imatinib
  • Infliximab
  • Modafinil
  • Nevirapine
  • Pemetrexed
  • Raloxifene
  • Tirofiban
  • Tranexamic acid
  • Ursodeoxycholic acid
  • Valganciclovir

Unfortunately, only 4 of the 26 medications are listed in the top 50 PBS drugs for government cost or subsidised prescriptions for 2016-2017. However, these drugs did account for 7,310,733 PBS subsidised prescriptions in 2016-2017:

MedicinePBS subsidised prescriptions
Pregabalin3,509,499
Oxycodone2,358,432
Imatinib25,800
Frusemide1,417,002

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2 Responses

    Default Gravatar
    AlexanderOctober 24, 2018

    When will the price of codeine go down?

      Avatarfinder Customer Care
      JohnOctober 25, 2018Staff

      Hi Alexander,

      Thank you for leaving a question.

      There is still no news on a price drop for Codeine. You might want to visit the website of the Department of Health Theraputic Goods Administration for updates of pharmaceutical products. Hope this helps!

      Cheers,
      Reggie

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