More than 650 pharmacies will close due to lost PBS fees and foot traffic under the planned 60-day dispensing policy, a report commissioned by the Pharmacy Guild of Australia has concluded.

The 123-page analysis by economist and News Corp columnist Henry Ergas says pharmacies will lose an extra $20 per script due to lost foot traffic, on top of the loss of dispensing fees.

“This independent report confirms the policy is catastrophic in its current form, leading to over 20,000 job losses, more than 650 pharmacies shutting, weekend opening hours drastically scaled back and millions of free services cut,” said guild president Trent Twomey in a statement.

“Only a small number of people benefit compared to millions of Australians who will either miss out, pay more, or have reduced services.”