ACT has announced a policy that would include requiring Medsafe to approve, within one week, any drug or medical device that has been approved by two comparable overseas regulatory bodies.
It's part of the party's policy to require the Ministry of Health to publish a Medicines Strategy every two years.
The strategy would also provide analysis of developments in medicines across the world, ensure regular performance reporting and international benchmarking of Pharmac, and regularly review pharmacist-only and prescription-only classifications and requirements.
The latter was aimed at ensuring the benefits outweighed the costs of limiting New Zealanders' access to medications used to treat common ailments.
ACT leader David Seymour said access to medicines was a "crucial part" of many New Zealanders' lives.
"Instead of relying on the luck of the draw or politically motivated funding announcements, ACT will create a dedicated strategy for ensuring access to medicines.
"It is simply not possible to truly reform the healthcare system without considering the role medicines play in the lives of New Zealanders. Access to pharmaceuticals is life or death, or the difference between a life of pain and suffering or living freely."
He said compared to other OECD countries, New Zealand was "consistently one of the worst performers" when it came to accessing new medicines.
"Between 2012-2021, New Zealand was at the bottom of the OECD pack in launching new medicines. Of 460 new medicines, 16% were launched in New Zealand, compared with 34% for Australia and an OECD average of 41%.
"This is why people have to travel overseas for medicine, it’s why Kiwis have to give up their life savings to access a medicine that other countries already provide."
ACT would have to negotiate for the policy in coalition agreements with National should the two parties be in a position to do so after the election.
Seymour said the Medicines Strategy would involve research into domestic and international developments in health needs and the availability of treatments. It would also entail specific obligations for Pharmac and Medsafe, and evaluate outcomes based on those obligations.
"It will ensure that the regulatory system and funding system for pharmaceuticals is sustainable and not unreasonably holding back access. It will lead to more Kiwis being able to access the medicines they need to live a fulfilling life.
"Performance benchmarking of Pharmac would provide information that can ensure the health system is working to maximise productivity and treat as many Kiwis as possible.
"For example, measuring long term benefits from pharmaceutical funding decisions can inform decision making that frees up hospital beds faster, or enables people to live independently, reduces carer burden and return to work or study sooner."
He said providing access to medicines that had already been approved by any two reputable foreign regulatory bodies — such as Australia, United States or the United Kingdom — would "significantly improve" access to medicines that have already been subject to rigorous testing and analysis through other regulatory regimes.
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