name: New Zealand Drug Administration
The Pharmaceutical Management Agency of New Zealand (Pharmaceutical Management Agency, Pharmac) is a government agency responsible for overseeing and managing drugs and pharmaceutical products used in New Zealand communities and public hospitals. The organization is located at 40 Sand Street 6011, Wellington, New Zealand , with a total of 80 employees.
Due to the increasing cost of medicines in New Zealand, the New Zealand Medicines Agency was established in 1993 to solve this problem. The main purpose of the organization is to ensure the health of the New Zealand public and to deal with New Zealand government funding for pharmaceuticals. In 2013/2014, they had approximately US$795 million, which they used to subsidize the US$43.1 million prescription subsidy budget for 3.5 million New Zealanders.
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