Report reveals $1 billion savings from statin price cuts

The savings have even been made even though there has been a rise in GP statin scripts

PBS spending on statins has dropped by almost $1 billion a year due to the price disclosure rules that force drug companies to reveal the real world prices of their medicines.

Statins

A new report shows Federal Government expenditure on lipid-lowering drugs fell from a peak of $1.3 billion in 2011/12 to $472,000 in 2015/16 - a fall of 62%.

The figures are even more stark as they come as GP prescribing of statins is rising, says the report from the Australian Institute of Health and Welfare (AIHW)

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