GSK report reveals $3.50 economic return for every dollar invested on vaccines

Pharma News: Increasing investment in adult immunisation could yield up to $1.1 billion in annual benefits, according to a new report commissioned by GSK.

The report, Prevention: A Productivity Superpower, highlights the economic opportunity of expanding access to vaccination and disease prevention in Australia. Launched today at Parliament House, the report reveals that every dollar invested in adult vaccination generates a $3.50 return by reducing demands on health services, government support, and carers, while boosting workplace productivity and overall economic participation.

While the Albanese Government pledged to implement the National Preventive Health Strategy during the 2022 election, which targets at least 5% of health spending for preventive measures, this year’s Federal Budget fell short of a meaningful shift toward that goal.

The GSK report analysed the cost-effectiveness of vaccines for diseases such as shingles, influenza, respiratory syncytial virus (RSV), pertussis, and diphtheria, showing that improving adult immunisation rates could deliver a $1.1 billion net economic impact.

Independent economist Saul Eslake underscored the economic importance of vaccination, noting, “Immunisation is one of the most economically effective public health measures, second only to clean water.”

He added, “As the population ages, vaccinations become even more valuable by helping Australians to live well for longer. Preventing disease is vital to Australia’s future economic resilience, as a healthy ageing population positively impacts workforce productivity, participation, and economic growth.”

The report also examined vaccines recommended for adults in the Australian Immunisation Handbook but not yet fully funded by the government. The findings emphasise the need for greater investment to deliver these vaccines, highlighting the long-term cost savings in health care, productivity, and government services.

As the current National Immunisation Strategy (NIS) expires in December 2024, a new five-year strategy is being developed. The Department of Health conducted an accelerated public consultation earlier this year to inform the future of Australia’s immunisation efforts.

Associate Professor John Litt, a retired academic, GP and public health physician, stressed the importance of equitable access to vaccines across the population.

“Underinvestment in vaccination disproportionately affects our most disadvantaged communities. Enhancing vaccine access for adults will help secure health and economic wellbeing for Australians, paving the way for a healthier future for all,” said Professor Litt.

Dr Alan Paul, Executive Country Medical Director at GSK Australia, pointed to the growing economic pressures that make preventive health investments crucial.

“Economic growth has slowed, cost-of-living increases, and inflation pressures are impacting households. Our population is ageing: demand for care and support services is escalating,” Dr Paul said.

“These are powerful economic forces that have the potential to lead to a future where government spending will outweigh revenue for the foreseeable future. This places Australia at a critical decision point. Governments are making decisions on the reforms and investments that can secure our economic sustainability. This report is designed to help governments make those decisions.”

The report urges critical policy reforms to fully unlock the potential of adult vaccination, including overhauling reimbursement systems to reflect the long-term societal and economic value of vaccines. It also advocates for prioritising adult vaccination within the National Immunisation Program (NIP) by establishing a 95% immunisation target for adults, mirroring the successful childhood vaccination benchmark.

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