Will the Australia–United States Free Trade Agreement undermine the Pharmaceutical Benefits Scheme?

Will the Australia-United States Free Trade Agreement undermine the Pharmaceutical Benefits Scheme?

The Australia-United States Free Trade Agreement (AUSFTA) contains major concessions to the US pharmaceutical industry that may undermine the egalitarian principles and operation of the Pharmaceutical Benefits Scheme (PBS) and substantially increase the costs of medicinal drugs to Australian consumers. AUSFTA's approach to the PBS excessively emphasises the need to reward manufacturers of "inno...

Australia-United States Free Trade Agreement and the Australian Pharmaceutical Benefits Scheme.

The Pharmaceutical Benefits Scheme 2003–2004

The Pharmaceutical Benefits Scheme (PBS) grew by 8% in 2003-04; a slower rate than the 12.0% pa average growth over the last decade. Nevertheless, the sustainability of the Scheme remained an ongoing concern given an aging population and the continued introduction of useful (but increasingly expensive) new medicines. There was also concern that the Australia-United States Free Trade Agreement c...

The Gains of Economic Integration: Substantive Evidence for an Australia-Korea Free Trade Agreement

Abstract On 6 December 2006, Australia and Korea announced a joint study on a possible Australia-Korea free trade agreement (AKFTA) to promote trade and economic relations between the two countries. The paper provides empirical evidence on the possible gains and their transmission mechanism from this agreement. Significantly, it uses a new economic policy modelling approach, the endogenous grav...

The North American Free Trade Agreement.