newsio aggregates and links to original sources. We do not own the original images or content. If you believe content infringes on intellectual property rights, contact us — it will be removed at first notice.
biotech/news//Australian Financial Review
Bristol Myers Squibb's CEO says Australia risks being abandoned as a market for new medicines.
Bristol Myers Squibb warns Australia could be abandoned as a market for new medicines.
KEY POINTS
Australia's pricing and approval system is considered one of the world's most prohibitive.
The current system provides little commercial incentive for drugmakers to list new medicines.
Millions of Australian patients may miss out on affordable life-saving therapies due to these barriers.
One of the world’s biggest drug companies says Australia risks being abandoned as a market for new medicines because it has one of the world’s most prohibitive pricing and approvals systems that may cause millions of patients to lose out on affordable live-saving therapies.
Owen Smith, the CEO of Bristol Myers Squibb’s Australian operations, said on Monday the Albanese government needed to urgently reform a pricing system which provided little commercial incentive for drugmakers to get new medicines listed on the Pharmaceutical Benefits Scheme.
Loading...