Millions of prescriptions for medications drop in price
MILLIONS of prescriptions for common medicines, treating everything from cholesterol to high blood pressure, have dropped in price for consumers by as much as $20 - or 60 per cent - many for the first time.
In an Australian first, the price of a large proportion of expensive combination medicines and patent-protected drugs listed on the Pharmaceutical Benefits Scheme have dropped, in addition to the annual April changes.
This will see the total number of medicines taking a price reduction skyrocket to over 400, more than quadruple the usual number at this time of year.
With one-in-five Australians now living everyday with multiple chronic conditions like heart disease, high blood pressure, eye disease and depression, this could save patients as much as $500 per year.
There will be further price reductions of as much as 50 per cent or more coming for consumers in October 2016.
Consumers will see a direct reduction in the cost of over 60 common medicines priced below the general $38.80 co-payment as part of the April round of price disclosure.
This includes a number of more expensive combination medicines dropping by as much as $20 below the patient co-payment for the first time.