Medicines New Zealand says PHARMAC model needs updating

2 March 2016

“We are outraged that the Minister of Health has today confirmed NZ$30 million [~$20 million] of PHARMAC’s budget was not reinvested in medicines in 2015. PHARMAC’s gross underfunding has left New Zealanders missing out on innovative medicines,” said Graeme Jarvis, general manager of Medicines New Zealand.

The trade group says New Zealanders are waiting for 81 medicines recommended for funding by the country’s Pharmaceutical Management Agency PHARMAC’s own technical advisory committee with an average waiting time of three years. The longest waiting time is 12 years.

Aside from providing PHARMAC with the correct levels of funding, the PHARMAC model needs to be updated to deal with the newest innovative medicines. Early access schemes are already benefiting patients in Japan, UK and USA.

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