Other countries gain public access to modern medicines* more efficiently due to their processes, funding models and investment levels.

United Kingdom

Public funding model - National Institute for Health and Care Excellence (NICE)  

• 84.3% of modern medicines registered in the UK are publicly funded.¹
• It takes on average 128 days for a modern medicine to be publicly funded after registration.¹
• The UK ranked 2nd out of 20 OECD countries for the number of publicly funded modern medicines registered and launched between 2011 and 2020 (251 medicines).²

Australia

Public funding model – Pharmaceutical Benefits Scheme (PBS) 

• 46.4% of modern medicines registered in Australia are publicly funded.¹
• It takes on average 481 days to publicly fund exactly the same modern medicines as New Zealand (798 days).³
• Australia ranked 16th out of 20 OECD countries for the number of publicly funded modern medicines registered and launched between 2011 and 2020 (120 medicines).²

New Zealand

Public funding model: (PHARMAC) Pharmaceutical Management Agency 

• It takes on average 798 days to publicly fund exactly the same modern medicines as Australia (481 days).³
• New Zealand ranked last out of 20 OECD countries for the number of publicly funded modern medicines registered and launched between 2011 and 2020 (34 medicines).²
• Less than 30% of the modern medicines registered in 20 comparable OECD countries between 2011 and 2020 were registered in New Zealand – 131 out of 441 medicines – and only 26% of the medicines which were registered in New Zealand were then publicly funded.²

*A modern medicines or a "new molecular entity" (NME) is defined as an innovative pharmaceutical medicine (including biologic medicines) that contains a new molecule that has not been previously approved in these countries before.

Sources:
1. Medicines Australia (2018). Comparison of Access and Reimbursement Environments (COMPARE 4). Available here.
2. IQVIA (November 2021). A Decade of Modern Medicines: An International Comparison 2011-2020. Available here.
3. IQVIA (November 2021). Access to Medicines (AtoM 3) 2011-2020. Available here.