Overview

• President Trump plans to impose small initial tariffs on foreign-made pharmaceuticals, rising to 150% within 18 months and 250% thereafter to boost US drug production.
• Health Minister Mark Butler said the threatened tariffs will not alter the discounts Australians receive under the Pharmaceutical Benefits Scheme.
• The government is preparing to implement a 2024 Health Technology Assessment review’s recommendations, including simultaneous Therapeutic Goods Administration and PBS submissions to accelerate listings.
• An expert advisory group is scheduled to deliver advice later this week on reducing the median 22-month wait for new medicines to reach the PBS.
• Australian pharmaceutical exports to the US, valued at about A$2.1 billion last year, could face significant costs, with major exporters like CSL at risk.