Summary

Amends the:

to: provide for price reductions on the fifth, tenth and fifteenth anniversary of a drug listing on the Pharmaceutical Benefits Scheme (PBS), and when the first new brand of a drug lists on the PBS; retain ministerial discretion to ensure that the minister can intervene if a legislated price reduction were to have an unintended consequence; and establish a price reduction floor, and stockholding requirements, for certain PBS listed brands that may be susceptible to global medicines shortages; and to remove redundant provisions.