Opposition delivers big pharma bigger profits
Nicola Roxon
posted Thursday, 11 March 2010
Thanks to the Opposition’s Senate irresponsibility, $48 million in taxpayer funds will now go to pharmaceutical companies without providing a single benefit to any patient or doctor.
The Government measure was designed to save taxpayers money on medicines that have a similar or same effect.
It created three new therapeutic groups for similar medications where the lowest price would act as a guide for other similar drugs in the group. These therapeutic groups ensure that the Government and taxpayers pay the same low price for medicines that achieve the same health outcomes.
For example, generally speaking, an osteoporosis sufferer could be prescribed one of two medications for their condition – with both having the same overall effect. Doctors would be able to prescribe whichever of the medicines is most suitable for the patient. This measure ensured the taxpayer funded PBS only paid the same low price regardless of which medication was prescribed.
This sensible and logical approach to paying for medications would have saved taxpayers $48 million over the next four years.
Because of the Opposition’s politicking, that money will now go directly to the pharmaceutical companies.
The therapeutic group policy was introduced by the Howard Government in 1997 – but now is opposed by Mr Abbott. This highlights once again the opportunism and irresponsibility of the Opposition in opposing this measure in the Senate.
Health is one of the fastest growing areas of expenditure because of our ageing and growing population and expensive improved medical treatments. The PBS cost $7.7 billion in 2008-09 and is expected to grow by 10.6% from 2008-09 to 2009-10.
If we are to be able to afford the PBS in the future, we have to ensure that our scarce health dollars are used as effectively as possible.
Thanks to the Opposition, taxpayers will now pay pharmaceutical companies $48 million more for these medicines than they should.
The bill for the Opposition’s financial irresponsibility and recklessness in health now stands at more than $2 billion and is growing with almost every sitting day.
Tags: Coalition, Pharmaceuticals