New agreement with GSK provides new medicines, saves millions for New Zealand

A new agreement with the local subsidiary of UK pharma giant GlaxoSmithKline (LSE: GSK) by New Zealand’s Pharmaceutical Management Agency PHARMA will see two newly listed medicines, improved access to commonly used asthma inhalers, and millions of dollars of savings.

The agreement with GSK includes five products, three of which – the asthma inhalers fluticasone (Flixotide), salmeterol (Serevent) and the combination inhaler Seretide – are already funded. Altogether, the changes will produce savings greater than NZ$20 million ($16.5 million) over five years, according to the Agency.

PHARMAC will remove the Special Authority criteria from Seretide, which is currently used by 74,000 New Zealanders with chronic asthma, which will mean anyone whose doctor thinks they need it can have it funded.