More than 400,000 Australians each week will pay no more than $25 for prescription medicines following an announcement by the Albanese Labor Government.
This will benefit over 20 million Australian’s who don’t hold a health or concession card. These patients will save up to $6.60 on each prescription. Collectively over the next four years, the cut will put $689 million back in the pockets of Australians.
The announcement was made at the Australian Pharmacy Professional Conference and Trade Conference on the Gold Coast that was officially opened today. There was a surprise visit by the Prime Minister, Anthony Albanese at the Opening Plenary. The event will be attended by more than 8000 pharmacists and industry representatives from across Australia.
The Prime Minister the Hon Anthony Albanese MP said,
“The Pharmaceutical Benefits Scheme is not for sale… it is a core part of who we are as Australians, and we will proudly defend it… we do not negotiate our values. We do these things as they improve the lives of Australians.”
National President Pharmacy Guild of Australia, Professor Trent Twomey said,
“This is a significant step towards relieving the financial burden of ill health and chronic conditions and making sure people can get the medicine they need. It’s been 20 years since prescription costs were this low and I’d like to thank Prime Minister Albanese for his vision on delivering this change”
This is the second cut to the co-payment from the Albanese Government. In 2023 the copayment was reduced from $42.50 to $30 – the first time it has been lowered in the 75-year history of the PBS. If this action had not been taken, Australians would be paying up to $50 per script in 2026.
“Everyday community pharmacists have conversations with our patients about the tough choices they are forced to make, between filling scripts and other essentials such as rent, groceries and petrol. For patients with multiple, regular prescriptions for essential medicines these savings will quickly make a difference.
“This will keep people healthier and prevent serious complications resulting from patients not taking their essential medicine.
“This is an important commitment by the government that will benefit millions of Australians. We applaud the government’s action to address the cost of living and ensure patients can afford their essential medicine.”
The decision follows a coalition of more than 20 health and community groups uniting to call on the government to make medicine more affordable. It included the Australian Patients Association, Asthma Australia, Family Planning Alliance Australia, QENDO, Australian Association for Adolescent Health,Wounds Australia, Parents & Citizens Queensland, the Pharmaceutical Society of Australia and Advanced Pharmacy Australia.
​
