NZ ownership shake-up
May 9, 2016
UNDER proposed new changes
to the New Zealand pharmacy
ownership rules, pharmacies will no
longer need to be majority owned
by pharmacists, nor restricted to
a physical location, government
discussion papers have revealed.
The rules, based on the Medicines
Act 1981 may soon be replaced
by the new regulations, according
to what has been dubbed the
Therapeutic Products Bill due
for introduction to parliament
sometime this year.
Only “fit and proper persons”
will be able to own pharmacies
with licences issued for three year
periods, but licence holders will
need to identify a responsible
pharmacist to oversee day-today
pharmacy operations and a
supervisor pharmacist, responsible
for professional pharmacy
standards and licence obligations.
Under the current NZ legislation,
individual pharmacists can have
a majority interest in up to five
pharmacies and prescribers are not
allowed to have a financial interest
in pharmacies, rules which will be
scrapped under the new legislation.
A proposed new regulatory body
would be established to oversee
the licencing process, with the
pharmacists accountable to the
licensee who in turn is responsible
to the regulator.
Pharmaceutical Society chief
pharmacist advisor Bob Buckham
urged high pharmacy engagement
in the consultation process, telling
the industry “it’s really vital that we
get your different perspectives.
“We’re going to need more than
‘this is rubbish’,” he added.
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