Who's getting the extra PBS billion?

An extra $1 billion was spent subsidising medicines to treat Australians in the 2023/24 financial year, as the Federal Government funded new cancer treatments and GLP-1 sales took off. 

According to information provided by Services Australia, pre-rebate reimbursements from the R/PBS totaled $17.81 billion in the financial year ending June 2024 - a 6.16 per cent increase on the $16.77 billion earned the previous financial year.

Half of this increase came from the Anti-Neoplastic and Immunomodulating Agents category, which increased 8.08 per cent year-on-year to $7.15 billion.