Australian Prime Minister Scott Morrison has announced a $150 million cost-of-living measure to cut the cost of medications for everyday conditions such as blood pressure and high cholesterol by $10 (US$7) per script.
The measure will see the highest price of medications listed under the Pharmaceutical Benefit Scheme (PBS) capped at $32.50 from Jan. 1 next year. The PBS is a list of all medicines subsidised by the Australian government.
The price drop is expected to ease pressure on the wallets of around 19 million Australians each year.
“This is the single most significant change to the cost of, and access to, medications since the PBS was introduced more than 70 years ago,” Morrison said in a statement on Friday, News.com.au reported.
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