Prices will be slashed on 1000 brands of 60 popular prescription medicines by up to $14 a script.
Thousands of families will pay less for prescription drugs but taxpayers who subsidise the cost of the life-saving medicines through the Pharmaceutical Benefits Scheme will also save $1.9 billion over five years.
Drug companies hope those savings will also help the Government list new drugs on the taxpayer-funded PBS, with a swag of new treatments for cancer, arthritis and kidney failure set to join the taxpayer-subsidised medicines scheme.
A comprehensive analysis of the savings for families prepared by the Health Department for The Sunday Mail readers reveals drugs to lower cholesterol, treat high blood pressure, osteoporosis, depression, heart failure and reflux will be reduced in price from today.
To read the full article, click here.