John Key admits New Zealand's drugs bill will rise (through TPP) | WHAT REALLY HAPPENED

John Key admits New Zealand's drugs bill will rise (through TPP)

Prime Minister John Key has admitted that New Zealand will have to pay more for medicines if it signs up to the Trans Pacific Partnership but he says this was unlikely to affect consumers.

Negotiations on the 12-nation agreement are now in their final stages, and ministers will travel to Hawaii this week to try and complete the deal.

Mr Key told reporters this morning that it was "highly probable" that drug patents would last longer under the Trans Pacific Partnership (TPP), and that meant Government would have to pay for the original drug - as opposed to the cheaper generic version - for longer.

"But for consumers that won't make any difference because on subsidised drugs you pay $5 for your prescription. So the Government may incur slightly more costs there."

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