More than 2000 medicine brands treating common conditions will drop in price for Hume residents from next month – some by as much as 50 per cent or more.

Federal Member for Hume Angus Taylor said the Coalition Government was continuing to deliver the largest ever reductions in the price of medicines for consumers across the Pharmaceutical Benefits Scheme (PBS).

“One-in-three medicine brands on the PBS will be cheaper for some consumers by as much as $20 per script, that’s a great result for patients using those common medicines,” he said.

“Those to benefit most will be patients who take multiple medications daily.”

For example, a non-concessional patient with diabetes, osteoporosis, high blood pressure and gastric reflux who is currently taking:

• metformin for type 2 diabetes (500mg tablet twice daily);
• pantoprazole for gastric reflux (40mg tablet daily);
• alendronate (70mg) + colecalciferol 140 microgram tablet for osteoporosis (as per dosing instructions), and,
• enalapril with hydrochlorothiazide for high blood pressure (20 mg/6 mg tablet daily)

will save up to $34.19 per month on scripts, which equates to a yearly reduction of $410.28.

“This means consumers will save money and this Coalition reform will also save taxpayers nearly $900 million over the next four years by ensuring Government isn’t overpaying for medicines either,” Mr Taylor said.

Camden pharmacist Aneek Mollah said the reform will make a real difference to patients who need it.

“Patients will benefit from these innovative reforms, with some people suffering multiple chronic conditions such as osteoporosis, high blood pressure and eye disease set to save as much as $400 per year on their medicine scripts,” he said.

More than 80 per cent – or about 1600 – of the 2000-plus brands of medicine are set to drop in price from October 1, 2016.

The remaining 20 per cent – those priced above the general PBS co-payment of $38.80 – would see a saving to taxpayers.

“The savings from our 2015 PBS Sustainability Package are already being used to subsidise new breakthrough medicines like the $150,000 melanoma treatment Keytruda,” Mr Taylor said.

“It’s a win-win for taxpayers and consumers and is another example of the Turnbull Government making medicines more affordable for millions of Australians.”

To find out more visit www.health.gov.au