What is the benefit of biosimilar medicines?

In Australia, we benefit from a world class healthcare system where the Government ensures medicines and health services remain affordable to those who need them. For example, under the Pharmaceutical Benefit Scheme (PBS), a medicine that costs $1,000 will only cost $40.30 (or $6.50 for concession) at the pharmacy. With the increasing availability of biological medicines for more diseases, the Government is spending a significant portion of the medicines budget on keeping biological medicines affordable for those who need them.

The availability of biosimilar medicines contributes to the sustainability of the Australian healthcare system by increasing competition between brands of the same biological medicine, leading to reduced overall costs for the healthcare system. By reducing the cost of healthcare services, the Government can invest in new medicines and offer better treatments to more people who need them, ensuring Australians receive world class healthcare today and in the future.