Policies aimed at further driving down PBS costs during the life of its recently signed Memorandum of Understanding (MoU) with the Federal Government would be difficult for the industry to absorb, Medicines Australia says.
In its 2011 Budget Submission, the peak industry body says the MoU should see up $1.9 billion in PBS savings. In return, the industry would gain an explicit commitment that it will not be asked to bear further savings measures before 30 June 2014, when the agreement expires.
However, the MA submission warns that in a “difficult time for Australia’s medicines industry”, the costs that will accrue from the savings will reduce the industries ability to absorb any major crises in coming years.
“The major changes triggered by the...
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