New Strategic Agreements with the Medicines Industry – PBS Website Updates

Page last updated: 1 July 2022

Amendments made by the National Health Amendment (Enhancing the Pharmaceutical Benefits Scheme) Act 2021 (Cth) (Amendment Act) give effect to the commitments in the new Strategic Agreements with the medicines industry (2022-2027). The legislative amendments take effect from 1 July 2022. The following updates have been made to the PBS website to reflect the reforms:

• Amendments to Statutory Price Reductions
• ‘Catch-up’ Statutory Price Reductions occurring on 1 April 2023
• First New Brand Reduction Policy
• Automatic flow-on of Statutory Price Reductions to combination items
• The Medicines Supply Security Guarantee including the introduction of Minimum Stockholding Requirements from 1 July 2023
• The introduction of ‘designated brands’ and floor price protections