New Zealand's Pharmac Plans $30M-$50M Savings to Fund Five New Medicines Reducing Hospital Infusion Hours

The U.S. Department of Health and Human Services, alongside the Centers for Medicare and Medicaid Services, has proposed the Global Benchmark for Efficient Drug Pricing (GLOBE) Model to the White House, aiming to tie Medicare drug payments to the lowest international rates to reduce the high costs of prescription drugs in the U.S. Meanwhile, in New Zealand, Pharmac is working to increase access to medicines by negotiating savings and proposing funding for five new treatments for conditions including multiple sclerosis, breast cancer, eye diseases, and lung cancer; these include more convenient subcutaneous injections that could save thousands of hospital infusion hours annually. The New Zealand government has committed substantial investment to Pharmac to ensure timely access to quality healthcare, emphasizing patient and clinician involvement in funding decisions. Separately, Heidelberg Pharma is responding to a delayed $70 million milestone payment by cutting costs and focusing development on its lead drug candidate HDP-101 for multiple myeloma, while pausing other clinical programs and reducing workforce by about 75%.