India Should Partner with Australia to avail PBS for the Selection, Listing, and Pricing processes of exported drugs, says Sudarshan Jain

As per to Sudarshan Jain, secretary general of the Indian Pharmaceutical Alliance, India should try to reach an agreement with Australia to use the Pharmaceutical Benefit Scheme (PBS) for the selection, listing, and pricing of exported medicines. The Intellectual Property Alliance is a leading industry association in India that represents a large consortium of research-based pharmaceutical companies.

PBS is part of the Australian government's larger National Medicines Policy, which subsidises the cost of medicine for the majority of medical conditions. It has also been learned that access to the PBS scheme would increase transparency and help Indian generic drug manufacturers ensure that price reductions are justified. "The PBS is Australia's primary direct benefit scheme in healthcare, under which the Australian government directly subsidises the cost of medicine for the vast majority of medical conditions."

Under its agreements with the United States of America (USA), Australia has granted American firms access to the PBS's selecting, listing, and pricing processes, as well as an avenue for alternative review," Jain added. According to the Pharmaceuticals Export Promotion Council of India, nearly 18 Indian companies have market authorizations for the Australian market, and 47 companies export formulations to Australia through agreements with local "sponsors." The state-run PBS is estimated to cover approximately 90% of the prescriptions generated. Another reason why generic medicines are not as popular in Australia is the high utilisation of the PBS Scheme. “In the India-Australia Comprehensive Economic Partnership Agreement (CEPA), India may adopt a similar approach and gain larger access to PBS,” emphasized regulatory experts.