Minister says patients with multiple chronic conditions such as osteoporosis and diabetes could save up to $400 a year

This article is more than 4 years old

This article is more than 4 years old

Patients will pay less for more than 2000 medicines from next month, with the price of brands treating common conditions to drop by as much as $20 a script.

The health minister, Sussan Ley, says some patients with multiple chronic conditions such as osteoporosis and diabetes could save up to $400 a year on their medicine scripts.

More than 80% of the medicines set to drop in price next month would see a direct saving to some consumers, while the remaining 20% – those priced above the general PBS co-payment – would save taxpayers from dipping into their pockets, according to Ley.

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“In addition to saving consumers real money cash in hand, this innovative Coalition reform will also save taxpayers nearly $900m over the next four years by ensuring the government isn’t overpaying for medicines either,” Ley said on Sunday. “It’s a win-win for taxpayers and consumers.”

She said the savings from the 2015 PBS sustainability package were already being used to subsidise new breakthrough medicines such as the $150,000 melanoma treatment Keytruda.

The price drops will come into effect from October 1.