PBS Top 10 rocket in revenue

The most reimbursed drugs on the PBS are continuing to grow their earnings at an astounding rate, with half of the top 10 earners growing by more than a quarter in the first half of the year.

MSD's PD-1 inhibitor Keytruda, already the highest reimbursed drug, grew almost 30 per cent in the first half of 2025 compared to the same period in 2024. That was the highest growth in dollar terms, garnering more than $90 million in extra pre-rebate R/PBS reimbursements.

Pharma in Focus analysed data released by Services Australia on the pre-rebate reimbursements for drugs subsidised on the PBS and RPBS for the first half year of 2025 to find those with the highest reimbursements.