FTA vs PBS
This nicely spun piece from the Age makes it pretty clear that the proposed FTA with the US will mean a lot more money for Big Pharma coming out of the pockets of Australian taxpayers and consumers.
Medicines Australia chief executive, Kieran Schneemann, said the deal and changes to the Pharmaceutical Benefits Scheme (PBS) would act as an incentive for American firms to invest in Australia.
and suggested as much as $1 billion might be spent on research here.
I think we all know what “an incentive” means in this context. If Schneeman’s estimate of a response on the scale of $1 billion is remotely plausible, the incentive must be a really big one. It would be more cost effective to give a bit more money to the National Health and Medical Research Council