Aussies could pay hundreds of dollars more insulin, asthma inhalers under US drug makers’ push

Vital everyday medicines such as asthma inhalers and insulin could become more expensive under a US push to unravel Australia’s Pharmaceutical Benefits Scheme.

Australians would pay hundreds of dollars more for medicines like insulin and asthma inhalers under a US drug makers’ push to unravel the Pharmaceutical Benefits Scheme, as Anthony Albanese declares the subsidy program is “not for sale”.

The Prime Minister has vowed to defend the PBS from attacks by US pharmaceutical giants who are heaping pressure on the Trump administration to slap a fresh round of tariffs on Australia because they believe the subsidy scheme hampers their profits.

Mr Albanese said the PBS was created and strengthened by Labor and would “never be on the negotiating table”.

“Australians shouldn’t have to pay thousands of dollars for everyday medicines,” he told this masthead.

Mr Albanese says the PBS will never be on the negotiating table. Picture: NewsWire/ Scott Powick,

Analysis of current out-of-pocket medicine costs in the US shows Australians would suffer huge price hikes on common drugs if the PBS was rolled back or amended.

The asthma medication Axotide costs uninsured Americans between $349 and $712 per script, while about 103,000 Australians pay no more than $31.60, which will drop to $25 in January.

In response to high asthma inhaler costs in the US a number of major manufacturers capped out-of-pocket costs for eligible patients, but this limit — equivalent to $55 — is still almost double the maximum PBS price.

The asthma medication Axotide costs uninsured Americans between $349 and $712 per script, while about 103,000 Australians pay no more than $31.60.

Meanwhile for diabetes patients the insulin Fiasp is $31.60 on the PBS, but Americans pay $930, while the medication Jardiance is $619 to $698 in the US compared to again $31.60 for the 220,000 Australians who access it.

ADHD medicine Concerta also costs Australians $31.60, while Americans pay the equivalent of $597 to $704 if uninsured.

About 450,000 Australians buy the preventive stroke medication Eliquis also for $31.60, while in the US patients pay between $91 and $1028.

All the PBS medicines will be dropped to $25 from next year under a new Labor policy, which has been matched by the Coalition.

In a letter this week American pharmaceutical giants complained the PBS was “egregious and discriminatory” and said US President Donald Trump should target Australia when he imposes new tariffs on trading partners next month.

American pharmaceutical giants complained the PBS is “egregious and discriminatory” and says Donald Trump should target Australia with tariffs. Picture: AFP

Mr Albanese said on Thursday it was not surprising “big pharma” doesn’t “like a scheme that isn’t about delivering for big pharma”.

Health Minister Mark Butler said drug makers in the US previously tried to pressure the Howard government to roll back the PBS during free trade talks, and that was “exactly what they’re trying to do today”.

“The only reason there is legislative protection in the US Free Trade Agreement for our PBS is because of the insistence on the part of the Labor Party,” he said.

Deputy Liberal leader Sussan Ley said her message to the American companies was “hands off our PBS”.

“Our world leading PBS is the envy of every other sector that delivers medicines internationally,” she said.

Originally published as Aussies could pay hundreds of dollars more insulin, asthma inhalers under US drug makers’ push