Option A - NZ Affiliate
In the past, many pharmaceutical companies have tried to maintain an affiliate branch in NZ, with some shared services with Australia. This can work fine while you have patented products reimbursed by Pharmac. Often if successful with Pharmac the organisations in NZ grow to take advantage of the opportunity. Ultimately, this will be unsustainable in the long run, as it is likely that key products will lose reimbursement or patents will end and pricing will need to dramatically reduce.
Option B – Run from Australia
Companies who have run option A, often switch to option B, keep some reps on the ground, and run everything from Australia. This option will see the business slowly but surely continue to decline. NZ is roughly one-fifth the size of Australia in population and sales values are often even lower, meaning NZ will get very little airtime or focus. The representatives will likely be disengaged due to the lack of interest. Sales materials will be designed for the Australian market and differentiate from competitors which won’t exist in NZ making them useless for the team.
From a reimbursement point of view, the market access team will treat Pharmac like the PBAC which will mean future product reimbursement is less likely.
Option C – WellMed.NZ
Partnering with WellMed.NZ gives you the best of both worlds. Expertise on the ground in NZ without significant investment in headcount and resources. Pharmac experts who have a trusting long-term relationship with Pharmac and have an ongoing dialogue.
WellMed.NZ would work with you to ensure your pipeline has the best chance of reimbursement with Pharmac kept up to date.
With in-market expertise, WellMed.NZ can work to adapt Australian/Global materials (with your approval/input) to ensure they are fit for purpose in NZ. WellMed.NZ would maintain agreed representation with a representative team who are aligned and motivated.
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