Price cut on prescription meds

The price falls, effective from Thursday, will save consumers up to $120 a year on medicines as part of the federal government's price disclosure policy.

The price of the cholesterol-lowering drug simvastatin will fall by up to $10.50 a script, while heart condition drug clopidogrel will fall by $4 a script.

The antibiotic ceftriaxone, used to treat meningitis and infections of the lungs, ears, skin, urinary tract, blood, bones, joints and abdomen, will drop by $14.68, the Herald Sun reports.

Health Minister Tanya Plibersek told the paper the $20 million price drop for patients is thanks to the government's push to get better value for patients and taxpayers.

"These price drops mean that some patients will be up to $14.68 better off on each script they get filled at their pharmacy," she said.

The government will also list 16 new medicines on the nation's subsidy scheme at a cost of $917.4 million over five years.