Pharmac's Cost Reductions for New Medicines: Minister Seymour's Positive Impact

Associate Education Minister David Seymour supports Pharmac's decision to lower the cost of certain funded medicines in order to allocate more funding for new medicines, emphasizing the critical impact of pharmaceutical funding on the lives of New Zealanders. The annual tender process allows Pharmac to save between $30 million and $50 million annually by reducing costs of existing medicines to fund new ones. Pharmac has implemented additional consultation steps in the tender process to gather feedback from patients, healthcare professionals, and advocacy groups, aiming for a more patient-centric approach in decision-making.