31 October 2012

Natural Products Industry Welcomes Progress on Regulation

The New Zealand natural products industry welcomes the support of all major parties on the Natural Health Products Bill which the Health Select Committee reported back to Parliament today.

There are more than 6000 natural health products on sale in New Zealand, and the natural products industry is a significant contributor to the New Zealand economy with earnings in excess of NZ$1billion, making it now larger than the biotechnology and organics industries combined.

Michelle Palmer, Executive Director of Natural Products New Zealand says that the industry has worked with the Government and the Green Party on the development of the proposal for a NZ regulatory system for natural health products for some time.

“We are very pleased with the direction the regulation is taking. Whilst the Health Committee report has only just been released, we are encouraged by the Committee’s recommendation for the inclusion of a schedule of approved pharmacopoeias in the Bill, and we look forward to continuing working with the government on the next level of detail required to develop effective regulations,” says Mrs Palmer.

“The Natural Health Products Bill will bring benefits to both manufacturers and consumers. Regulation that allows the industry to inform and protect New Zealand customers and at the same time facilitates innovation and export growth, is desperately needed.

“A strong and sensible regulatory scheme will ensure quality, safety and efficacy for consumers and manufacturers alike. The public can be confident that products are safe and are true to what is stated on the label.

“A recognised regulatory system will also be hugely beneficial to NZ manufacturers in both their domestic and export markets. While most of the manufacturers of natural health supplements in New Zealand already meet stringent regulatory standards enforced by their export markets, we need our own internationally recognised regulatory system to create a level playing field on the home ground and facilitate our thriving industry,” says Mrs Palmer.

Natural Products New Zealand (NPNZ) represents over 80% of the Natural Products industry

ENDS

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