A statement from Pearce MHR Christian Porter said people could save as much as $20, or 60 per cent, per script for a range of drugs, from common treatments to expensive ones.
Among more common medications to drop in price are Amlodipine for high blood pressure and high cholesterol, up to $23.05 cheaper per script.
Clopidogrel, which is dispensed for some heart conditions, will be up to $21.49 cheaper, and for treating glaucoma, Latanoprost will be to $10.99 cheaper per script.
Consumers will also see a direct reduction in the cost of more than 60 common medicines priced below the general $38.80 co-payment as part of this round of price disclosure.
Further price reductions, of up to 50 per cent or more, will occur in October when price calculations for thousands of common PBS medications will reflect the cost of cheaper generic versions, rather than more expensive premium brands.