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Free trade in pharmaceuticals.

M Kevin Outterson1

  • 1College of Law, West Virginia University, University Avenue, 6130, Morgantown, WV 26506, USA. Kevin.Outterson@mail.wvu.edu

The Medical Journal of Australia
|September 7, 2004
PubMed
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The Australia-United States Free Trade Agreement (AUSFTA) may impact Australia's Pharmaceutical Benefits Scheme (PBS). Reforms should address high US drug prices, not Australia's efficient drug pricing system.

Area of Science:

  • Health policy
  • International trade agreements
  • Pharmaceutical economics

Background:

  • The Australia-United States Free Trade Agreement (AUSFTA) includes provisions that could potentially affect Australia's Pharmaceutical Benefits Scheme (PBS).
  • The PBS is recognized globally as a highly effective system for managing pharmaceutical costs and accessibility.
  • Concerns exist that AUSFTA may undermine the PBS, leading to increased drug prices in Australia.

Purpose of the Study:

  • To analyze the potential impacts of the Australia-United States Free Trade Agreement (AUSFTA) on the Australian Pharmaceutical Benefits Scheme (PBS).
  • To examine the implications of AUSFTA's provisions on drug pricing and public health in Australia.
  • To evaluate the transparency and financial disclosure practices within pharmaceutical submissions and research funding.

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Main Methods:

  • Comparative analysis of AUSFTA provisions concerning pharmaceutical regulations and the PBS.
  • Review of transparency requirements and industry disclosure practices related to the Pharmaceutical Benefits Advisory Committee.
  • Examination of the language used in AUSFTA regarding public health versus pharmaceutical innovation.

Main Results:

  • AUSFTA's provisions may pose a threat to the sustainability and affordability of the PBS.
  • Pharmaceutical manufacturers' demands for transparency contrast with their own lack of disclosure regarding submissions and financial relationships.
  • The agreement prioritizes "pharmaceutical innovation" over "public health" language concerning affordable prescription drugs.

Conclusions:

  • Postponing the implementation of the AUSFTA Implementation Bill allows for further study of its potential consequences on the PBS.
  • There is an ongoing debate in Australia regarding whether AUSFTA will necessitate significant changes to the PBS, potentially increasing drug costs.
  • Focusing reforms on addressing excessive drug prices in the US, rather than altering Australia's economically efficient pricing, may be a more appropriate strategy.