US EditionBig pharma fears drugs in crosshairs of US-EU tarrif spat
- The Pharmaceutical Benefits Scheme creates delays in patient access to new medicines, with 'unreasonable patient access delays' occurring due to government considerations for public subsidy decisions.
- US companies are likely to push the Trump administration to act against Australian subsidies, viewing the PBS as a trade barrier, according to Australian National University law professor Peter Drahos.
- Trade Minister Don Farrell emphasized that the Labor Party would never compromise on the PBS amid trade tensions with the US.
- The PBS cost taxpayers $17.7 billion last financial year, helping reduce the cost of 930 different medicines, based on PBAC experts' public health decisions.
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