Experts warn Trump order demanding cheaper medicines for US could push up Australian prices

Donald Trump’s pressure on medicine companies could drive up the cost of Australia’s Pharmaceutical Benefits Scheme (PBS) or see companies withdraw some medicines from Australian shelves, experts have warned. Faced with lower American profits, companies would be likely to demand higher prices elsewhere in the world and reject the lower prices offered by the Australian government, according to Flinders University health economist Prof Jonathan Karnon. The Albanese government, which campaigned on protecting cheaper PBS medicines, indicated it would not pass on higher prices to Australian consumers. Labor was on Tuesday assessing how the policy could impact Australian households and industry, as was pharmaceutical industry body Medicines Australia. after newsletter promotion“There is a lot that remains unclear,” Medicines Australia said in a statement.