Mounjaro, diabetes and weight loss drug, won’t be listed on PBS after negotiations collapse

Australians using the popular diabetes and weight loss drug owner’s have been dealt a blow, with confirmation the medication won’t be listed on the PBS for now.

Around 450,000 Australians will miss out on discounted access to the weekly injection after its manufacturer walked away from negotiations with the federal government.

WATCH THE VIDEO ABOVE: Mounjaro PBS listing rejected after pricing dispute

Know the news with the 7NEWS app: Download today Arrow

Pharmaceutical giant Eli Lilly has been locked in a long-running pricing stoush with the government over the medication’s PBS listing.

The company has now abandoned those negotiations, leaving patients to continue paying hundreds of dollars every month out of their own pockets for the treatment.

Mounjaro has become increasingly popular as both a diabetes medication and weight loss treatment in recent years.

Mounjaro diabetes drug won’t be listed on PBS after negotiations collapse Credit: 7NEWS