USFTA and the PBS

Well today's headline didn't surprise, an 'ongoing review' of arrangements was always on the cards. And setting up what appeared to be an industry-heavy reference group seemed predestined to be a forum for the US to continue to pursue its 'strategic objectives' for the FTA. However it's harder to discern what the actual impact might be. I don't know how much US investment in Australia in the pharmaceutical sector there is, but the nature of this industry generally means that Oz is on the end of the line because of our small domestic market. We do have substantial generic drug manufacturing capability and this sub-sector really should have been set for a bit of growth, given the imminent expiry of a number of 'blockbuster' drugs.

The gut instinct (hmm...that should have been the name of this blog) says it all stinks. We'll see.