How much you'll save when medication prices drop

MORE than 2000 medicine brands will drop in price from next month - some by as much as 50% or more.

"One-in-three medicine brands on the PBS will be cheaper for some consumers by as much as $20 per script, that's a great result for patients using those common medicines in North Queensland," Federal Member for Dawson George Christensen said.

"Patients in North Queensland will benefit from these innovative reforms, with some people suffering multiple chronic conditions such as osteoporosis, high blood pressure and eye disease set to save as much as $400 per year on their medicine scripts.

For example, a non-concessional patient with diabetes, osteoporosis, high blood pressure and gastric reflux who is currently taking:

  • metformin for type 2 diabetes 500mg tablet twice daily;
  • pantoprazole for gastric reflux 40mg tablet daily;
  • alendronate 70 mg + colecalciferol 140 microgram tablet for osteoporosis (as per dosing instructions); and
  • enalapril with hydrochlorothiazide for high blood pressure 20 mg/6 mg tablet daily; will save up to $34.19 per month on scripts, which equates to a yearly reduction of $410.28.

The price reductions scheduled for the start of October are the latest innovative reform to come into effect from the Coalition's landmark PBS Sustainability Package, which passed Parliament last year.

More than 80% or about 1600 of the 2000-plus brands of medicines set to drop in price would see a direct saving to some consumers.

The remaining 20% - those priced above the general PBS co-payment of $38.30 - would see a saving to taxpayers instead.

Mr Christensen said the Liberal National Government was delivering a win-win for consumers and taxpayers with the price reductions through the Pharmaceutical Benefits Scheme.



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