Fed: Aust medicines among cheapest in the world - lobby group

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Fed: Aust medicines among cheapest in the world - lobby group

Drug industry lobby group Medicines Australia says Australian medicines are among thecheapest in the world.

Medicines Australia today reiterated its support for the federal government's planfor a 30 per cent price hike in the cost of medicines under the Pharmaceutical BenefitsScheme.

The drugs subsidy scheme costs the government nearly $5 billion a year and the governmentis trying to shave around $1 billion from its cost.

But Labor and the minor parties have blocked the government's plan.

In a speech to the National Press Club in Canberra, Medicines Australia chairman JEAYSLILLEY has said medicines in Australia remain among the cheapest in the world.

But Mr LILLEY has warned that unless people pay more for medicines, there'll be lessresearch and development, and as a consequence, less new medicines that are available.

AAP RTV so/sb/rca/rp

KEYWORD: PBS (CANBERRA)