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Could Trump force us to pay more for our medicines?

20 snips
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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ANECDOTE

Medicine Price Discrepancies

  • Prozac costs $730 in the US and $10 in Australia.
  • Lipitor, a cholesterol drug, is $2000 in the US, under $10 in Australia.
INSIGHT

Price Difference Magnitude

  • US drug prices are about 400% higher on average than in Australia.
  • The US healthcare system is a patchwork with varying coverage, unlike Australia's PBS.
INSIGHT

Australia's PBS Advantage

  • Australia negotiates drug prices through the PBS, leveraging its market power to lower costs.
  • This system benefits Australians by providing affordable medicines, but is disliked by pharmaceutical companies.
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