Overview

• The bill was formally introduced in the House this week to legislate a $25 maximum charge for PBS-listed prescriptions from next year.
• Government projections estimate the cap will reduce out-of-pocket costs by $200 million annually while costing the budget $690 million over four years.
• Pensioners and concession cardholders will continue to benefit from the existing $7.70 script price freeze through at least 2030.
• The Coalition matched the policy during the federal election, setting the stage for swift, cross-bench support under Labor’s parliamentary majority.
• Prime Minister Anthony Albanese reaffirmed that PBS pricing will not be used in US trade negotiations despite threats of pharmaceutical tariffs.