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Could Trump force us to pay more for our medicines?
Mar 26, 2025
Tori Shepherd, a senior reporter at Guardian Australia, dives into the heated politics surrounding Australia's Pharmaceutical Benefits Scheme (PBS). She discusses how big pharma is pressuring Donald Trump for higher medicine prices, raising concerns about tariffs affecting Australian access to affordable medications. The conversation also highlights the stark price differences between the U.S. and Australia, the government's efforts to ensure low costs, and the implications for upcoming elections, all while addressing public misconceptions about the PBS.
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Quick takeaways
- The stark contrast in medication prices between the US and Australia underscores the effectiveness of Australia's Pharmaceutical Benefits Scheme in managing costs.
- Big pharma's lobbying efforts to influence Australia's drug pricing highlight the ongoing tension between profit motives and public health interests.
Deep dives
Price Disparities in Pharmaceuticals
The differences in medication prices between the United States and Australia are stark, with Australian prices often being significantly lower. For example, Prozac costs approximately $730 in the US, whereas it is only $10 in Australia. Similarly, Lipitor, a cholesterol-lowering drug, can cost around $2,000 in the US but is available for under $10 in Australia. Such disparities highlight a broader issue where, on average, US consumers are paying about 400% more than what Australians pay for similar medications.
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