Comparable Countries
Other countries gain public access to modern medicines more efficiently due to their processes, funding models and investment levels.
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.
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
It takes on average 128 days for a modern medicine to be publicly funded after registration.
The UK ranks 2nd out of 20 OECD countries for its overall market access to modern medicines.
Australia
Public funding model – Pharmaceutical Benefits Scheme (PBS)
46.4% of modern medicines registered in the Australia are publicly funded.
It takes on average 352 days to publicly fund the same modern medicines as New Zealand after registration.
Australia ranks 17 out of 20 OECD countries for its overall market access to modern medicines.
New Zealand
Public funding model: (PHARMAC) Pharmaceutical Management Agency
23.5% of modern medicines registered in the New Zealand are publicly funded.
It takes on average 599 days to publicly fund the same modern medicines as Australia after registration.
New Zealand ranks last out of 20 OECD countries for its overall market access to modern medicines.
Find out more:
COMPARE 4 Comparison of Access and Reimbursement Environments 2018