The bill will usher in major changes around medical devices and natural health products including vitamin and mineral supplements – and considerable changes can be expected for manufacturers and retailers of such products. It will also establish a new regulator to replace Medsafe, significantly increase penalties (to as high as NZ$1 million for failing to comply with some orders) and introduce provisions for a civil pecuniary penalty regime which could attract penalties in the millions.
With significant change afoot and the opportunity to engage in the submissions process next year, in The Big Picture: The Therapeutic Products Bill we take a closer look at the detail of the proposed legislation. Those involved in the sector should consider reviewing the aspects of the bill that are particularly relevant to their organisation. Submissions are due by 15 February 2023.
Read The Big Picture: Therapeutic Products below.