Australian Government to Subsidize Wegovy
Australia's Pharmaceutical Benefits Scheme (PBS) is set to list Wegovy, a glucagon-like peptide-1 (GLP-1) medication for weight loss. This listing will significantly reduce the cost for eligible patients with severe obesity and established cardiovascular disease.
Eligibility and Cost Savings
Patients qualifying for the subsidized medication must have established cardiovascular disease, such as a history of heart attack or stroke, and a Body Mass Index (BMI) of 35 or higher. Currently, individuals pay up to $4,000 to $5,000 annually for GLP-1 medications. Under the PBS, the cost will be reduced to $25 per prescription, or $7.70 for concession card holders.
Health Minister Mark Butler stated that this initiative addresses both health and equity concerns, as the high market price is beyond the means of many Australians.
Financial Implications for Taxpayers
Minister Butler acknowledged that subsidizing Wegovy will result in a substantial cost to taxpayers. The exact financial impact will be determined following negotiations between the government and the manufacturer, Novo Nordisk. The Pharmaceutical Benefits Advisory Committee (PBAC) previously advised a