AUSTRALIA ADDS NEW DRUGS TO PBS

Australia has added 45 new branded drugs to its list of government-subsidised medicines. The new drugs include asthma treatment Alvesco (GSK/Altana), diabetes drug Gluvocane (Bristol-Myers Squibb) as well as ulcerative colitis treatment Colazide (Salix Pharmaceuticals). It is estimated that the new listings will cost the Australian government roughly AUD8.5mn (US$6.47mn) per year.

Australia spends around AUD5bn (US$3.8bn) a year on the Pharmaceutical Benefit Scheme (PBS), controversially using harsh price controls to protect consumers from "prohibitively high" drug prices. The PBS covers around 75% of all prescription drugs consumed in Australia.