Govt Boosts Pharmac Funding to $6.3 Bln, Expands Access to Medicines for Kiwis

"Pharmac operates independently but must work within the budget provided by the government," said Seymour.

Associate Health Minister David Seymour has praised the expanded availability of medicines for New Zealanders, driven by the government’s record investment in Pharmac.

"Pharmac operates independently but must work within the budget provided by the government," said Seymour. “When we took office, the outlook for medicine access was uncertain. Pharmac was facing a $1.7 billion funding shortfall with no new funds to increase access to medicines."

To address this, the government has allocated Pharmac its largest-ever budget of $6.294 billion over the next four years. This funding is aimed at ensuring Pharmac can continue to negotiate the best deals and improve medicine availability for Kiwis.

As of 28 August 2024, Pharmac has consulted on the funding of 24 treatments, including 13 for cancer and 11 for other conditions. Beginning 1 October 2024, several new cancer drugs will be funded, including Keytruda for advanced triple-negative breast cancer, head and neck cancer, advanced bladder cancer, Hodgkin lymphoma, and for both first and second-line treatments for bowel cancer. From 1 November 2024, Opdivo will be funded for advanced kidney cancer. Additionally, access to critical preventative treatments like posaconazole and voriconazole will be expanded for individuals with weakened immune systems, including cancer patients and organ transplant recipients.

These decisions follow earlier moves to fund 10 medicines in 2024/25, including six new treatments and expanded access to four others. The government also recently approved the funding of Continuous Glucose Monitors (CGMs) and insulin pumps, effective 1 October 2024.

“I am encouraged by Pharmac’s responsiveness to the voices of patients and their families, especially in expanding access to Keytruda for more groups, such as those with certain types of breast and bowel cancer,” Seymour remarked. "This decision reflects our commitment to a more adaptable, patient-centered approach."

Seymour emphasized that building a world-class health system requires access to world-class medicines, and the government is committed to making that a reality for New Zealanders.