A number of new medicines to treat cancer, diabetes, multiple sclerosis and other diseases have been added to the Pharmaceutical Benefits Scheme (PBS).

Federal Health Minister Peter Dutton says the latest round of PBS changes will see around another 50 new and amended medicines and technologies subsidised.

He says around 230,000 people are expected to now receive medicines they might otherwise not have been able to afford.

Among the new drugs is Dabrafenib, sold as Rafinlar, which is the first melanoma medicine that targets a genetic mutation present in about half of all melanoma cases.

Another new medicine, Sunitinib (Sutent), for pancreatic cancer, increases survival rates of patients who cannot undergo surgery.

And denosumab (Prolia), available on the PBS for the treatment of osteoporosis in women, is being extended to benefit around 5,700 men.

Mr Dutton says price changes for a number of PBS medicines have also been approved, but he says patients will still only have to pay $5.90 or no more than $36 per prescription.

"I'm confident we've got the balance right," Mr Dutton told ABC News Breakfast.

"There will always be more to do and there are other drugs that are being judged and assessed right now, but these drugs will make a big difference in people's lives.

"I think it's a great process we've got and it's one of the important institutions in our health system in this country.

"We do it much better than many other countries and I hope we can continue to make that investment a very wise investment, for the future health needs of Australians."

Medicines to treat multiple sclerosis are also among the new listings.

MS Research Australia chief executive Dr Matthew Miles says the new medicines widen treatment options.

"Traditionally MS has been treated by injectable forms, the injectable forms of treatment have done a lot for people with MS over the last 15 years but the oral treatments are now coming in and give a greater scope and a wider ability for people to take a wider scope of medication," he said.