New Zealand's Pharmac set for 2026 budget expectations

Associate Health Minister David Seymour announced new expectations for Pharmac for the 2026/27 fiscal year, urging the agency to find efficiencies and deliver medicines and medical technology within its fixed budget. He called for continued assessment, procurement and exceptional‑circumstances processes, stronger consideration of health, social and fiscal impacts, greater patient and caregiver input, and faster, more transparent funding decisions, including set assessment time‑frames and public reporting. Seymour also highlighted plans to invest in data, digital infrastructure and AI to support core functions.

Seymour cited Pharmac’s recent achievements: a 12‑month reset programme, a new strategic vision, digital upgrades to the Pharmaceutical Schedule, streamlined assessment pilots, establishment of a Medical Devices Supplier Reference Group, and expanded stakeholder engagement. The agency’s budget has grown to $7.2 billion over four years, with recent $54 million and $604 million uplifts and a $1.77 billion investment in 2024. To date, Pharmac has made 135 funding decisions—including 47 cancer medicines—expected to benefit over 680,000 patients in the first year.