INDEPENDENT NEWS

Price competition saves drug money

Published: Thu 22 Mar 2001 05:44 PM
Media Release
Price competition saves drug money
PHARMAC says a vigorous competitive market in New Zealand has halved the price of a costly anti-ulcer drug over the past three years.
Chief Executive Officer Wayne McNee says the supplier of pantoprazole (Somac) has just reduced its price to the newly agreed price of its competitor omeprazole (Losec).
The drugs, called proton pump inhibitors, are used to treat severe acid stomach problems.
“These drugs are still costly, but competitive pressures mean the taxpayer will now pay $1 a day per patient for them instead of the $2 a day in 1998.”
Earlier this month pharmaceutical company AstraZeneca reached an agreement with PHARMAC, which lowered the price of omeprazole and it regained its status as a fully subsidised medicine.
Now Pharmacia, the supplier of pantoprazole, has matched the lower price.
Wayne McNee says the result is very good news for patients, doctors and the taxpayer.
“Patients have always had access to an effective fully funded treatment, but these latest agreements will give them a choice.”
[ends]

Next in Business, Science, and Tech

New era for Air New Zealand’s International Network
By: Air New Zealand
Government invests in Te Reo, environmental data research
By: New Zealand Government
27 percent increase in Trades Academy places
By: New Zealand Government
NZ company fined NZ$36,000 for unsolicited messages
By: Department Of Internal Affairs
EDS calls for urgent action on marine management
By: Environmental Defence Society
E tū: changing times as Air NZ cuts London services
By: E tu
Te Hiku Media awarded $13 million for language platform
By: Te Hiku Media
Bridges' officials claimed failed tech 'transformational'
By: RNZ
Using Data to Give Our Rivers a Voice
By: Seed The Change
Satellite-based remote lake health monitoring solution
By: Seequent
Government announces next steps in skills gap plan
By: New Zealand Government
Jacinda Ardern - Speech to CTU biennial conference
By: New Zealand Government
ITF welcomes additional vocational training places
By: Industry Training Federation
More Trades Academy places good news for primary sector
By: Primary ITO
Supported employers key to trades training review says MTA
By: Motor Trade Association
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media