Comparable Countries
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.