From cancer medication to blood pressure pills: The life-saving medicines that are now cheaper - as private healthcare premiums rise

  • Eleven new life-saving medicines added to the Pharmaceutical Benefits Scheme
  • Medicines for high blood pressure, diabetes, cancer, and asthma will be cheaper
  • Some cancer drugs will drop in cost from over $60,000 to $39.50 or less
  • Patients with high blood pressure or digestive disorders to save $50 a year

Life-saving medications will now be cheaper for Australians with high blood pressure, diabetes, cancer, and asthma as eleven new medicines have been added to the Pharmaceutical Benefits Scheme.  

The savings come at the same time private health care is set to rise, with premiums increasing by 3.95 per cent on April 1.

'Australians with conditions including high blood pressure, depression, digestive disorders and certain types of cancer will now pay less for their medicines,' Health Minister Greg Hunt announced.

Eleven life-saving medications will now be cheaper for Australians with high blood pressure, diabetes, cancer, and asthma on the Pharmaceutical Benefits Scheme

ife-saving medications will now be cheaper for Australians with high blood pressure, diabetes, cancer, and asthma as eleven new medicines have been added to the Pharmaceutical Benefits Scheme

One of the biggest beneficiaries will be the 178,000 diabetes sufferers who will now be able to buy Toujeo, a longer-lasting insulin drug, at a greatly subsidised price. 

The drug, which is normally worth around $1800 a year, will be available for less than $40 a script and will greatly reduce the chance diabetics may develop night-time hypoglycaemia. 

Esomeprazole, a common drug used to treat 620,000 Australians with digestive disorders, will be sold at up to 21 per cent less than the regular price, saving patients around $50 each year. 

Patients who need to take the drug olmesartan to manage high blood pressure will also save around $50 each year, affecting 80,000 Australians.  

Some specialist cancer drugs will drop dramatically in cost.

'Australians with conditions including high blood pressure, depression, digestive disorders and certain types of cancer will now pay less for their medicines,' Health Minister Greg Hunt announced

'Australians with conditions including high blood pressure, depression, digestive disorders and certain types of cancer will now pay less for their medicines,' Health Minister Greg Hunt announced

Drugs used to treat lymphoma, lung cancer and non-melanoma skin cancer which normally cost over $60,000 will reduce to $6.40 for concession card holders and $39.50 for non concession holders.

Atezolizumab, a drug used to treat locally advanced or metastatic non-small cell lung cancer can cost up to $100,000 for a round of treatment. It will now cost $6.40 for concession card holders, or a maximum of $39.50 per script

Trexject will be available to treat rheumatoid arthritis and psoriasis, coming down in price from around $1093 a year.

Patients who need to take the drug olmesartan to manage high blood pressure will also save around $50 each year, affecting 80,000 Australians

Patients who need to take the drug olmesartan to manage high blood pressure will also save around $50 each year, affecting 80,000 Australians

The cuts come as the Coalition said they had subsidised more than $8.2 billion worth of new medicines since coming to government.

'Our commitment to the PBS is rock solid. Together with Medicare, it is a foundation of our world-class healthcare system,' Mr Hunt said.

Health insurance premiums will rise with Australians paying around $200 more for their cover each year.

'Private health insurers are treating Australians as fools,' opposition health spokeswoman Catherine King said.

'More than 13 million Australians will see an extra hit to their budget as a result of Turnbull's failure to stand up to the big insurers and crack down on premium rises.' 

PBS Medicine Price Reductions from 1 April 2018

  •  Toujeo: A longer-lasting insulin drug for diabetics. The drug is normally worth around $1800 a year and will be available for less than $40 a script.
  • Esomeprazole:  A common drug used to treat digestive disorders will be sold at up to 21 per cent less than the regular price, saving patients around $50 each year.
  • Olmesartan: A drug used to manage high blood pressure will save patients $54 each year.
  • Trexject: Treats rheumatoid arthritis and psoriasis, coming down in price from around $1093 a year.
  • Atezolizumab: A drug used to treat locally advanced or metastatic non-small cell lung cancer costing up to $100,000 for a round of treatment will now be sold at a maximum of $39.50 per script.

Source: Pharmaceutical Benefit Scheme  

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