Two big drugs win Budget listing

Federal Treasurer Jim Chalmers fired a return shot at American multinationals during his Budget speech last night, warning that the PBS will only go from strength to strength - and underlined it by announcing reimbursement for two pegged blockbuster drugs.

Delivering the Albanese government's fourth budget, Chalmers said: “The Pharmaceutical Benefits Scheme is a great Labor creation – and a great Australian institution.

“We are strengthening it because Australians need us to, not weakening it because American multinationals want us to.