Thousands of Australians Face Skyrocketing Costs as Labor Price Cut Force Lifesaving Drug From PBS

Thousands of Australians Face Skyrocketing Costs as Labor Price Cut Force Lifesaving Drug From PBS
In this file photo, insulin injections and other diabetic medical supplies are pictured in Irvine, Calif., on March 24, 2022. John Fredricks/The Epoch Times
Updated:

The federal government is under pressure from the Coalition after removing a key lifesaving drug from the pharmaceutical benefits scheme (PBS), sending its cost soaring for thousands of Australians.

Fifteen thousand Australians, many whom are children, who rely on Novo Nordisk’s fast-acting insulin drug Fiasp to manage their Type 1 diabetes will now face skyrocketing costs to keep their autoimmune disease under control.

This will mean that Type 1 diabetics who utilise Fiasp will be forced to pay hundreds of dollars a month more for the drug after its prices rose 41-fold, from the subsidised $7 (US$4.65) a month to $287. At present, there are 13,000 children and young adults who have Type 1 diabetics in Australia, according to data from the Australian Institute of Health and Welfare.
This photograph taken on February 23, 2023, in Paris, shows the anti-diabetic medication "Ozempic" (semaglutide) made by Danish pharmaceutical company "Novo Nordisk". (Photo by Joel Sage/AFP via Getty Images)
This photograph taken on February 23, 2023, in Paris, shows the anti-diabetic medication "Ozempic" (semaglutide) made by Danish pharmaceutical company "Novo Nordisk". Photo by Joel Sage/AFP via Getty Images
Australian Minister for Health and Aged Care Mark Butler speaks at Parliament House in Canberra, Australia, on July 28, 2022 . (Martin Ollman/Getty Images)
Australian Minister for Health and Aged Care Mark Butler speaks at Parliament House in Canberra, Australia, on July 28, 2022 . Martin Ollman/Getty Images
According to the federal health department, if the savings for the first two months of the cheaper medicines policy are repeated across the course of 2023, the total savings flowing back into the pockets of Australians with a Medicare card will amount to $218 million.
An insulin kit. (Kerem Yucel/AFP via Getty Images)
An insulin kit. Kerem Yucel/AFP via Getty Images
“We understand this is causing distress for some people living with diabetes who currently use this medication,” they said.

“We have conveyed our concerns to Novo Nordisk and the government, and are continuing these discussions to see what can be done to reduce the impact on people living with diabetes who are using this medication.”

Victoria Kelly-Clark
Author
Victoria Kelly-Clark is an Australian based reporter who focuses on national politics and the geopolitical environment in the Asia-pacific region, the Middle East and Central Asia.
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