Sigma to receive millions in compensation

Sigma will receive over $5 million compensation for new price disclosure measures announced in the Federal Budget. 

The money comes from a $15 million pool allocated to wholesalers in the Budget. It will compensate them for further cuts to medicines prices negotiated with Medicines Australia.

After agreeing to an amendment of its Community Service Obligation (CSO) deed Sigma will receive $5.2 million. The compensation is based on its market share over the past two years.

The National Pharmaceutical Services Association (NPSA) has issued a statement welcoming the payout.

“We are encouraged that government is acting quickly to deliver changes announced in this year’s Budget, correcting an imbalance in the remuneration structure," said NPSA Chairman Mark Hooper.

“The NPSA and its members view this change to the CSO as recognition of the impact of the government&rsquo