The Pharmaceuticals Management Agency (Pharmac), a New Zealand apex body that decides which medicines to subsidize on behalf of District Health Boards, has revealed that last year has been historic one. They have never funded so many medicines as they did last year.
Their annual report revealed the fact which also disclosed that in total 39 medicines have got funded by them. Other 43 medicines supply has also been increased.
PHARMAC will be funding an innovative form of anti-blood clotting treating that will make significant changes to the way anticoagulation is managed in New Zealand.
The current blood stopping treatment is warfarin, which has too many risks for patients and requires close patient monitoring including regular blood tests. Some people have difficulties tolerating with warfarin and is also affected by types of food including broccoli.
Pharmac, a government drug-funding agency involved in subsidizing of medicines, is seeking reactions in response to the suggested reforms regarding its Exceptional Circumstances Policy.
A drug funder of the New Zealand Government, Pharmac is ready to give funds to the Indian firm Dr. Reddy's Laboratories, which has made Quetiapine drug.
Pharmac has said that the subsidy for Seroquel, a brand of the antipsychotic drug Quetiapine will be reduced from 1 October and in its place they will introduce the new brand of Quetiapine made by the Indian pharma giant Dr. Reddy's Laboratories.
A sum of $65 million was saved over five years by government drug buying agency, Pharmac, due to competition between pharmaceutical companies over the heart drug metoprolol.
Around 200,000 people utilize Metoprolol, a beta-blocker, to treat increased blood pressure and heart failure.