Scott Morrison pledges to cut $10 from Pharmaceutical Benefit Scheme scripts

The cut to script prices means the maximum price Australians will pay for PBS medicines drops from $42.50 to $32.50.

Concession card holders receive no additional benefit from the cut and will continue to pay $6.80 per script.

Two senior Coalition ministers accidentally let the policy reveal slip a month earlier than Saturday's official announcement, after they read incorrect speeches in parliament from an earlier draft version of this year's federal budget which included the script price cut.

The measure was ditched at the last minute from the 2022-23 budget and held over to be released during the campaign as an election promise for a re-elected Coalition government.

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The Prime Minister said the promise was the single most significant change to the cost of medications since the PBS was introduced more than 70 years ago.

"Because of our strong economic management, the Coalition is winding the clock back on the cost of medications, reducing the cost per script to 2008 prices," Scott Morrison said.

"This will put more than $150 million back into the pockets of Australians every year."

Pharmacy Guild national president and former LNP staffer Trent Twomey, speaking at the Coalition's announcement in Launceston on Saturday, said the election commitment was "a very real step" to making medicines more affordable.

More than 900,000 people delayed or went without getting their medication because of costs, he said.

"There's nothing discretionary about essential medicines. Essential medicines aren't something you can choose to go without one week, or take half the prescribed dose. If your GP has written a prescription for it, it's because by its very nature essential."

Mr Twomey said community pharmacies across Australia would welcome the reduction in the co-payment.

"This reduction will help Australians struggling with the cost of living to make ends meet without delaying, deferring or skipping their prescription medicines," Professor Twomey said.

"The Pharmacy Guild of Australia formed a coalition with medical peak bodies including the Australian Patients Association, Chronic Pain Australia and Musculoskeletal Australia to represent the needs of patients and we are very grateful that this government has listened to the voices of these bodies, their patients and members."

Health Minister Greg Hunt drew a distinction between the Coalition's record of listing 2900 new or amended listings on the PBS since it came to power in 2013, and the former Rudd-Gillard Labor government's record.

"In contrast, Labor stopped listing medicines on the PBS in 2011, including medicines for severe asthma, chronic pain, schizophrenia, blood clots, IVF, endometriosis and prostate conditions," Mr Hunt said.

The Coalition promised to continue the practice of listing all medicines on the PBS recommended by the independent Pharmaceutical Benefits Advisory Committee, which makes its recommendations based on the effectiveness and cost-effectiveness of new drugs.