Australians paying $1 billion too much for drugs

CHF CEO Carol Bennett launched a website today – – to monitor prescription medicine costs and calculate the amount of money taxpayers would have saved if pricing policies had been in line with the market prices for pharmaceuticals in other countries. 

The data on the site has been drawn from updated research by Professor Philip Clarke, chair of health economics at Melbourne University’s Centre for Health Policy, Programs and Economics.

The CHF claims Australia is spending $1 billion too much on prescription medicines each year, compared to Britain.

The site today estimated more than $16 million would have been saved since the government was sworn in last week, if prices were in line with Britain. 

The savings lost each minute could have paid for 55 additional GP visits, it said. 

Prime Minister Tony Abbott instituted