The Drugs Aren’t Working Down Under as Economic Reform Lags
- Pharmacies’ political clout insulates industry from reform
- Central bank has called for more competition in economy
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In downtown Sydney, adults can buy a pack of 30 painkiller tablets for less than A$10 ($7.37) that are banned over-the-counter in most developed nations, because they partially convert into morphine after taken.
Futile attempts to regulate the sale of codeine despite addiction risks, and the lack of debate on the issue in the run-up to next month’s election, illustrates the strength of the pharmacy lobby. It’s also an example of a wider impasse on structural reforms that’s put a brake on Australia’s productivity.