The GBMA is the national association representing companies that manufacture, supply and export generic and biosimilar medicines. Members of GBMA ensure all Australians are offered high quality generic and biosimilar medicines, which provide affordable health outcomes that benefit all Australians.
The generic and biosimilar medicines sector plays a significant role in providing cost savings to the Commonwealth Government¹.
GBMA Members:
Provide over 900 Generic and Biosimilar brands available in the Australian market
Represent 80% of the total generic volume on the PBS
Have invested over $500 million of additional inventory and supply infrastructure for PBS medicines, improving access and health security for Australia
Each biosimilar has the potential to release up to $100 million in savings to the taxpayer per molecule.
References
- IQVIA National audit Dec-2023