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Australians diagnosed with a rare form of lung cancer will now have access to a life-saving drug at a fraction of the cost.

Previously Retevmo cost $10,000 a month, now patients will pay just $30 per script.

It's a drug that proved life-changing for Ian Hill after a trip to the GP for a run-of-the-mill cough turned out to be something much worse.

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"Cancer wasn't on my radar at all," Hill told 9News.

Scans showed it was Stage 4 lung cancer and the 47-year-old was started on chemotherapy.

Treatment left the father-of-two bedridden and unable to play with his kids or live a normal life.

But a breakthrough came when genetic testing showed the Melbourne dad had a rare form of lung cancer.

"That mutation occurs in about one to two per cent of patients with lung cancer," medical oncologist Dr Tom John told 9News.

Known as R-E-T or "ret", it meant Ian was eligible for a new drug.

Retevmo "doesn't have much in the way of side effects", says John, but it used to impact the hip pocket.

"It could be out to $100,000 or $200,000 or even more, if people were on this treatment for long periods of time," he said

But as of yesterday, it's been listed on the Pharmaceutical Benefits Scheme (PBS) and will cost a fraction of the price.

"This will provide new hope we think to about 130 patients every single year," Health Minister, Mark Butler, said.

"Having a drug like this available on the PBS for all patients means that you don't have to be rich to get onto this," John said.

And for Ian, it worked.

"It's effectively stopped the cancer within my body," he said of the results.

While this treatment only works on people with this particular form of lung cancer, it's given Ian a second shot at life without the price tag.

"It means that the money that we are not having to spend on this medication can be used to make memories and enjoy the time with my family."

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