Generic medicines in Australia : business dynamics and recent policy reform

Lofgren, Hans 2009, Generic medicines in Australia : business dynamics and recent policy reform, Southern med review, vol. 2, no. 2, pp. 24-28.

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Title Generic medicines in Australia : business dynamics and recent policy reform
Author(s) Lofgren, Hans
Journal name Southern med review
Volume number 2
Issue number 2
Start page 24
End page 28
Total pages 5
Publisher Zaheer Babar, Ed. & Pub.
Place of publication Auckland, New Zealand
Publication date 2009-09
ISSN 1174-2704
Keyword(s) generic medicines
medicines policy
pharmaceutical benefits scheme
Summary This article describes the role of generics in the Australian prescription drug market and patterns of business activity in this dynamic market segment. The Pharmaceutical Benefits Scheme (PBS) is the central mechanism for the supply of prescription medicines. PBS prices are arrived at through cost-effectiveness analyses comparing new products against already available products and therapies. In this system, prices do not operate effectively as incentives for consumers or prescribers to choose generics, and their market share was historically marginal. In recent years, generics suppliers achieved a growing market share through discounts (trading terms) to pharmacists. It is estimated that around 30% of PBS scripts, representing around 15% of PBS sales by value, are now filled with generics. Complex changes to the PBS were introduced in 2007, to be phased in over the period to 2012, aimed at increasing the scope for cost benefits to the government, and to lesser extent consumers, from the expanding availability of generic medicines.
Language eng
Field of Research 160510 Public Policy
160699 Political Science not elsewhere classified
Socio Economic Objective 940299 Government and Politics not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2009
Copyright notice ©2009, Zaheer Babar, Ed. & Pub.
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Created: Wed, 23 Sep 2009, 12:22:40 EST by Hans Lofgren

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