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The first day of the new year will bring with it new hope for Australians fighting one of the most common blood cancers, thanks to a critical new medicines listing on the Pharmaceutical Benefits Scheme (PBS).
From 1 January 2021, Darzalex^® (daratumumab) will be listed for the first time in combination with bortezomib and dexamethasone, as a second-line treatment for patients with multiple myeloma – a cancer of the plasma cells.
Around 1,165 patients will benefit from access to this treatment, which might otherwise cost up to $160,000 a year. Patients could now pay as little as $41.30 per script, or $6.60 with a concession card.
Darzalex^® mobilises the patient’s own immune system to fight the disease.
This treatment will bring improved clinical outcomes and quality of life for those affected by this disease.
In 2020, it is estimated more than 2,300 new cases of multiple myeloma will be diagnosed in Australia.
About 18,000 people in Australia are living with this serious condition at any one time.
Also from 1 January 2021, Australians living with severe chronic psoriasis will benefit from the first time listing of Otezla^® (apremilast) on the PBS.
Around 5,000 patients with severe chronic psoriasis might pay more than $7,500 a year for treatment without this listing.
Around 1.6 million Australians live with some form of psoriasis—a long-term inflammatory skin condition. People who suffer with the most severe and chronic forms of the disease also have an increased risk of developing diabetes and cardiovascular disease.
The source of inflammation in psoriasis is thought to be caused by an enzyme, PDE4. Otezla^® works to reduce the PDE4 activity and the subsequent inflammation.
Both Tagrisso^® and Otezla^® have been recommended by the independent Pharmaceutical Benefits Advisory Committee (PBAC).
Since 2013, the Australian Government has approved over 2,500 new or amended listings on the PBS.
This represents an average of around 30 listings or amendments per month – or one each day – at an overall investment by the Government of close to $12 billion.
Changes to PBS co‑payment and safety net thresholds come into effect on 1 January each year. The changes are calculated in accordance with the National Health Act 1953 and are indexed based on the Consumer Price Index.
The PBS co‑payment for concession card‑holders will remain capped at $6.60 per script in 2021. The safety net threshold for concession card‑holders will also remain at $316.80 per year. When a concession card-holder reaches the Safety Net threshold, they will be eligible for a Safety Net Card and receive PBS medicines free of charge for the rest of 2021.
The maximum co‑payment for general patients will be $41.30 per PBS script in 2021.
The Government’s commitment to ensuring that Australians can access affordable medicines, when they need them, remains rock solid.

The Morrison Government has this year passed major pieces of legislation to cushion the blow of the COVID-19 pandemic, keeping Australians in jobs, businesses in business and sparking a faster-than-anticipated economic recovery.
Despite 2020’s challenges, the Government has also successfully delivered on its promises to cut red tape and improve Australia’s economic competitiveness, with reforms to the tax system, insolvency, financial services and foreign investment.
In total, the Government passed more than 40 pieces of legislation in 2020 from the Treasury Portfolio, including:
JobKeeper
A key feature of the Government’s Economic Recovery Plan is the temporary JobKeeper Payment which has been an economic lifeline to millions of Australians, helping to keep businesses in business and Australians in jobs.
Announced in March, legislated in April and extended in September, the JobKeeper Payment provided a critical economic lifeline for Australian businesses and their employees at the height of the pandemic.
The first phase of JobKeeper supported more than 3.6 million workers and around 1 million businesses, with payments totalling nearly $70 billion in the six months to the end of September.
RBA analysis released in November indicated that JobKeeper has saved at least 700,000 jobs.
Cash Flow Boost
The Government’s economic response also provided direct cash flow support to small and medium businesses and not-for-profit entities to keep operating, pay their bills and retain staff.
The Boosting Cash Flow for Employers measure was announced and legislated in March, with the first payments beginning in April.
In total, this measure is expected to provide around 800,000 small business and not-for-profit entities with support totalling around $35.5 billion.
The cash flow boost has offered vital support to businesses and not-for-profit entities weathering the COVID-19 crisis, ensuring they recover strongly and continue to grow.
JobMaker Hiring Credit
Unveiled in October’s Federal Budget, the $4 billion JobMaker Hiring Credit is helping younger Australians, hit particularly hard by the pandemic, get back to work.
Parliament passed legislation in November, securing fixed payments of $200 per week for an eligible employee aged 16 to 29 years and $100 per week for an eligible employee aged 30 to 35 years, paid quarterly in arrears by the Australian Taxation Office.
The JobMaker Hiring Credit is expected to support around 450,000 positions for young Australians.
Tax Relief
Following the Federal Budget in October, the Government secured the passage of legislation through Parliament to deliver tax cuts for more than 11 million Australians, backdated to 1 July this year.
By bringing forward Stage two of the Personal Income Tax Plan and providing the additional low and middle income tax offset, hard working Australians will have more money in their pockets at a time when they need it most.
The legislation also recognises the importance of businesses in the economic recovery, by allowing those with a turnover of up to $5 billion to immediately deduct the full cost of eligible depreciable assets as long as they are first used or installed by 30 June 2022.
Insolvency Reforms
In order to help businesses dealing with the economic impact of COVID-19, the Government successfully passed legislation to enact the most important changes to Australia’s insolvency framework in 30 years.
The reforms introduce a new, simplified debt restructuring process, drawing on key features of the Chapter 11 bankruptcy model in the United States. They will apply to incorporated businesses with liabilities of less than $1 million – covering around 76 per cent of businesses subject to insolvencies today, 98 per cent of whom who have less than 20 employees.
The measures take effect on 1 January 2021, reducing costs, cutting red tape and ultimately helping more small businesses to recover from the COVID-19 crisis.
Foreign Investment Framework
In December, the Government passed legislation giving effect to the most significant reforms to the Foreign Acquisitions and Takeovers Act 1975 in nearly 50 years.
This ensures Australia’s foreign investment framework keeps pace with emerging risks and global developments, including similar changes to foreign investment regimes in comparable countries.
Responding to the Hayne Royal Commission
The Government continues to bolster protections for consumers and small businesses as part of its response to the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
In December, Parliament passed legislation addressing 20 recommendations, strengthening unsolicited selling (anti-hawking) provisions and preventing pressure selling, introducing a deferred sales model for add-on insurance products and making the handling and settlement of insurance claims a ‘financial service’.
These changes are complemented by providing further clarity regarding the role of the regulators and enhancing the requirements of financial institutions reporting breaches of the law which will ensure significant misconduct is reported and investigated sooner.
The Government’s legislative agenda in 2021 will continue to create jobs, rebuild our economy and secure Australia’s future.

Contracts have been signed with companies to partner with the Australian Government to safely distribute COVID-19 vaccines to all Australians from March next year.
The contracts cover three vital aspects of the vaccine rollout:

• Distribution and logistics— industry leading providers DHL and Linfox will undertake COVID-19 vaccine distribution.
• Data—Accenture will provide tracking of vaccine doses as well as enabling overall program implementation monitoring.

In addition, PwC will be the Department of Health’s Program Delivery Partner for the vaccine rollout.
Finalisation of these contracts confirms Australia is on track to achieve a well-ordered, efficient and safe rollout of COVID-19 vaccine. Subject to approvals, the first vaccinations will be provided to health workers and aged care residents from March.
DHL and Linfox will work with the Department of Health to design and operate a national distribution network. They will support vaccination for all, including people in rural, remote and very remote areas and others who are hard to reach.
They will also be required to track and report the temperature of the vaccine at all times. The required temperature could be 2 to 8 degrees (standard cold chain temperatures) to as low as minus 70, which is needed for the Pfizer vaccine.
Purpose built dry ice containers will be supplied for moving the Pfizer vaccine around Australia, as part of the Government’s global distribution deal with Pfizer.
As well as transporting the vaccines from the point of acceptance from manufacturers to vaccination administration sites, the logistics partners will be responsible for transport and management of vaccination supplies such as needles, syringes, and personal protective equipment.
Data partner Accenture will design, develop, and implement a software solution to enable “point in time” visibility of COVID-19 vaccine doses across the delivery chain.
This will include receipt of the vaccine by health services, vaccination of patients, and subsequent monitoring for adverse reactions.
Vaccines will be a critical part of Australia’s ongoing response to COVID-19 and the Australia Government has secured over 117 million doses to cover the Australian population several times over.
Vaccines will complement the other vital health measures including social distancing, good hand hygiene, high testing rates and Australians mandatory hotel quarantine regime for international travellers.
Our advice remains that Australia remains on track for first vaccinations in March, and completion of whole of population in 2021.
Australia’s response to the COVID-19 pandemic remains the envy of the world.

Contracts have been signed with companies to partner with the Australian Government to safely distribute COVID-19 vaccines to all Australians from March next year.
The contracts cover three vital aspects of the vaccine rollout:

• Distribution and logistics— industry leading providers DHL and Linfox will undertake COVID-19 vaccine distribution.
• Data—Accenture will provide tracking of vaccine doses as well as enabling overall program implementation monitoring.

In addition, PwC will be the Department of Health’s Program Delivery Partner for the vaccine rollout.
Finalisation of these contracts confirms Australia is on track to achieve a well-ordered, efficient and safe rollout of COVID-19 vaccine. Subject to approvals, the first vaccinations will be provided to health workers and aged care residents from March.
DHL and Linfox will work with the Department of Health to design and operate a national distribution network. They will support vaccination for all, including people in rural, remote and very remote areas and others who are hard to reach.
They will also be required to track and report the temperature of the vaccine at all times. The required temperature could be 2 to 8 degrees (standard cold chain temperatures) to as low as minus 70, which is needed for the Pfizer vaccine.
Purpose built dry ice containers will be supplied for moving the Pfizer vaccine around Australia, as part of the Government’s global distribution deal with Pfizer.
As well as transporting the vaccines from the point of acceptance from manufacturers to vaccination administration sites, the logistics partners will be responsible for transport and management of vaccination supplies such as needles, syringes, and personal protective equipment.
Data partner Accenture will design, develop, and implement a software solution to enable “point in time” visibility of COVID-19 vaccine doses across the delivery chain.
This will include receipt of the vaccine by health services, vaccination of patients, and subsequent monitoring for adverse reactions.
Vaccines will be a critical part of Australia’s ongoing response to COVID-19 and the Australia Government has secured over 117 million doses to cover the Australian population several times over.
Vaccines will complement the other vital health measures including social distancing, good hand hygiene, high testing rates and Australians mandatory hotel quarantine regime for international travellers.
Our advice remains that Australia remains on track for first vaccinations in March, and completion of whole of population in 2021.
Australia’s response to the COVID-19 pandemic remains the envy of the world.