The Federal Government has added an important new leukaemia drug to the PBS.

Imbruvica helps patients with the most common form of leukaemia, chronic lymphocytic leukaemia (CLL), and will be available from the Pharmaceutical Benefits Scheme (PBS) from December 1.

The costs of the medicine will drop from up to $100,000 per year, down to less than $500.

Over 1,500 Australians are diagnosed with CLL each year.

“It affects the white blood cells that normally produce antibodies that protect the body from infections,” Leukaemia Foundation CEO Bill Petch said.

CLL sufferers are susceptible to serious infections, which can be life-threatening.

“What Imbruvica does is block a particular protein that stimulates the leukaemia cells growth,” Mr Petch said.

Prime Minister Malcolm Turnbull announced its inclusion on the PBS at Sydney's Royal North Shore Hospital.

“It is one of 1,500 new drugs costing in total $7.5 billion that we brought onto the Pharmaceutical Benefits Scheme since we came into office,” Mr Turnbull said.

“It is a reminder of how keenly focused we are in the fight against cancer.”