HomeNewsInnovation and AccessInnovation and Access: A Stronger PBS for AustraliaFor more than 75 years, the Pharmaceutical Benefits Scheme (PBS) has supported the health and wellbeing of Australians. But as science and medicine advance, Australians need the PBS to evolve too.“Globally, medical innovations are being developed at a rapid pace, and it is vital that Australians can benefit from them in a timely way.” Anne HarrisManaging Director, Pfizer Australia & New Zealand Pfizer is calling for greater investment in the PBS, so Australians have access to the best possible treatments, when they need them, particularly for those living with chronic diseases.
Currently, Australians wait an average of 466 days for subsidised access after a medicine is approved by the Therapeutic Goods Administration (TGA). This is 100 days slower than the OECD average, and 300 days slower than developed markets, such as Japan, Germany, and the UK.
Additionally, many new medicines don’t make it to Australia. Of all the new medicines launched
globally between 2012-2021 just 24% are listed on the PBS.
Other developed countries provide better medicine access due to several factors including:
Streamlined regulatory and reimbursement processes that are suitable to assess new treatments.
Greater government investment in pharmaceutical innovation.
Different approaches to drug pricing.
Pfizer sees a clear opportunity to work collaboratively with policymakers, healthcare leaders and the patient community to strengthen the PBS for faster and fairer access to medical innovations. This reflects what Australians want. In our survey of 2,000 Australians, they told us medicines access should be improved and overwhelmingly support greater investment in the PBS to ensure the system can deliver for those who need it most.
Pfizer says it’s time for a Stronger PBS.Innovation and Access:
A Stronger PBS for AustraliaDownload the Report As a member company of Medicines Australia, Pfizer Australia supports the pharmaceutical industry's #StrongerPBS campaign led by Medicines Australia. For more information on the Stronger PBS campaign, visit www.strongerpbs.com.au.