Developing and manufacturing products in New Zealand comes with numerous benefits, including tax credits and incentives provided by the government to support businesses.
Faster approval timelines
New Zealand’s regulatory framework for clinical trials offers overseas organizations a competitive advantage for its streamlined and efficient approval process.
Every clinical study undergoes a thorough review process before starting, to ensure compliance with ethical and regulatory standards. This review involves two main bodies: the New Zealand Medicines and Medical Devices Safety Authority (Medsafe), responsible for assessing scientific aspects, and the Health and Disability Ethics Committee (HDEC), which evaluates ethical standards.
According to data from Medsafe, the average turnaround time for approval is 14 days, compared to a three-month average in the United States.
In addition, a US Pre-Investigational Drug (IND) submission is not required to initiate first-inhuman clinical trials in New Zealand.
A company may be able to initiate a clinical trial in parallel to preparing a US IND submission. This can lead to commencing dosing within a single review cycle of 6 – 8 weeks.
By developing and trialling products in New Zealand, companies are likely to receive a quicker indication of their product’s viability, potentially accelerating its market release.
Diverse patient population
Despite its small population compared to countries such as the US, New Zealand features a diverse demographic landscape, across ethnicity, backgrounds, age, socioeconomic status and geographic location. By conducting trials in New Zealand, researchers gain access to a broad spectrum of potential participants.
New Zealand’s universal access to healthcare services, also ensures equitable access to clinical trials, further enhancing the representativeness and generalizability of study samples and findings.
Tax credits and incentives
The New Zealand Government offers research and development (R&D) tax credits to organizations at 15% (net) of eligible R&D expenditure or loss, up to $120 million. These tax credits can be cashed out annually.
While automatic approval for overseas companies is not guaranteed under the framework, Douglas CDMO has successfully navigated these requirements for some international customers.
Douglas CDMO is prepared to assist overseas partners in applying for this R&D recognition to ensure they can also maximize the financial efficiencies of their development programs.
For more information on how Douglas CDMO can support your next R&D project and assist with RDTI eligibility, please contact our customer service team.
Contact usCompetitive costs, high quality
Operating costs, including labor and overhead expenses, are lower in New Zealand compared to some other developed countries, without the risk of compromised quality. At Douglas CDMO, we uphold high standards in manufacturing and product quality, optimizing outcomes for patients and end-users.
Leading the way in business friendliness and integrity
New Zealand is ranked #1 in the world by the World Bank in the Ease of Doing Business rankings for 2019, offering an unparalleled business-friendly environment.
Transparency International’s 2023 report identified New Zealand as the world’s #3 least corrupt country, supported by its commitment to transparency and ethical business practices.
Geographic advantage
New Zealand’s Asia-Pacific location offers advantages for those located in the northern hemisphere. We can answer queries seemingly overnight. Our team are flexible in their approach and the time zones of our clients. This is coupled with our agility and ability to adapt to changes in requirements and scope.