Thyroid cancer patients spending more than $100,000 a year on treatment will be able to access it for $38 thanks to a federal government subsidy.
Health Minister Sussan Ley says the listing of cancer drug Lenvima on the pharmaceutical benefits scheme from Thursday will help about 140 Australians who currently pay more than $117,000 for one year of treatment.
They'll now be able to get it for $38.30, or $6.20 for concessional patients.
"This listing will help reduce stress for people at a very difficult time in their lives," Ms Ley said.
Lenvima is used to treat thyroid cancer that does not respond to treatment with radioactive iodine, by blocking proteins that encourage cancer cell growth.
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It's been shown to significantly delay the cancer's progression.
"These patients generally only live for two-and-a-half to three years after diagnosis," Ms Ley said.
"The addition of this cancer medicine to the PBS, at a cost of approximately $71 million over five years, is part of the Australian government's undertaking to make new and affordable treatments available for people when they are very sick and in need of affordable access to medicine."
A string of expensive medicines will become cheaper for patients when they're listed on the PBS on Thursday, including Repatha, which treats a rare disease associated with high cholesterol and usually costs more than $900 a month.
Xolair, which treats severe asthma, and Actemra, for rheumatoid arthritis, will also be listed, while those suffering severe ulcerative colitis will get subsidised access to the drug Humira.
The new listings will cost taxpayers more than $139 million over five years.
