2 April 2019
The Generic and Biosimilar Medicines Association (GBMA), peak body for generic and biosimilar medicines, congratulates Treasurer Frydenberg and Health Minister Hunt on the delivery of a Budget that provides a practical, fiscal plan that aims to secure the healthcare of Australians.
GBMA Chief Executive, Marnie Peterson, on behalf of members welcomes the Government’s Budget focus on funding for PBS medicines and new health initiatives.
GBMA members welcome $40 billion in the Budget 2019-20 measures that will ensure broader and more cost-effective access to life-changing and life-saving medicines products.
“The Health budget demonstrates the Morrison Government’s commitment to listings on the PBS and spending on health, to provide the necessary funding for Australia’s healthcare system,” Ms Peterson said.
Generic and biosimilar medicines have been a frontline instrument for providing timely access to affordable medicines through the PBS. Long term investment in the PBS will ensure crucial eco-system and partnerships between generic and biosimilar medicines and branded medicines continue and prosper, benefitting all Australians.
The GBMA is the representative body for generic and biosimilar medicine suppliers in Australia, and its members ensure that Australians have access to high quality and affordable, generic and biosimilar medicines.
GBMA is the national association representing companies that manufacture, supply and export generic and biosimilar medicines. GBMA represents all major generic medicine suppliers in Australia and more than 90% of all generic medicines dispensed in Australia. Members of GBMA ensure all Australians are offered high quality generic and biosimilar medicines, which provide affordable health outcomes that benefit all Australians. Members of GBMA take seriously their role in the responsible provision of affordable medicines in Australia, as stipulated in the National Medicines Policy. The generic and biosimilar medicines sector is a high value-add sector delivering significant health and economic benefits to the Australian public. The availability of generic medicines in this country helps to deliver:
– Timely access to affordable medicines;
– Substantial savings to the PBS;
– Thousands of highly skilled jobs; and
– Domestic manufacturing and annual exports of around $300 million.