Media Release

$124 million increase over four years for investment in new medicines

4 May 2016

Medicines New Zealand is pleased that the New Zealand Government has today announced a $124 million increase over four years for investment in new medicines.

“New Zealanders have been waiting for 81 medicines recommended by PHARMAC’s pharmacology technical advisory committee (PTAC) for up to twelve years and it is pleasing that the Government is addressing this” said Hon Heather Roy, Medicines New Zealand Chair.

Medicines are cost-effective investments which deliver savings upstream in the health system, significantly contribute to an increase in life expectancy, improve quality of life, and in some cases can cure patients with chronic diseases.

It is also encouraging that DHBs are recognising these cost-savings delivered by medicines by adding $11 million to PHARMAC’s annual budget for the next year.

“We would hope that DHBs match this investment for a longer period of time so that New Zealanders can access the right medicines when they need them” said Dr Graeme Jarvis, Medicines New Zealand General Manager.

“Medicines New Zealand has long campaigned for all New Zealanders to access innovative medicines both now and in the future. This increase is a significant step in the right direction.”

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