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Detail of outcome
The department has decided not to introduce a further price cut at present but to observe developments in the voluntary Pharmaceutical Price Regulation Scheme and the statutory scheme in 2015. This issue will be kept under review as more data becomes available.
The department will amend the 2007 regulations to strengthen information requirements from companies.
We want comments on 2 aspects of the statutory scheme that controls the cost of branded medicines:
Should there be a further reduction in the maximum price of prescription only, branded health service medicines?
Should companies record and keep information on actual prices of medicines to provide if the department suspects a breach of the regulations?
The aim is to keep the statutory pricing scheme in line with the voluntary Pharmaceutical Price Regulation Scheme. This will allow the branded medicines pricing system to operate in a fair and logical consistent way.