A long-running initiative by the Australian and New Zealand governments to set up a joint regulator for the therapeutic products market has been abandoned.
Health Minister Jonathon Coleman today announced work on the trans-Tasman agency had ceased.
He said following a review of the costs and benefits of the planned Australia New Zealand Therapeutic Products Agency, it was no longer going ahead.
The intention was for the agency to safeguard public health and safety, while making it easier for therapeutic companies to do business in both countries.
Dr Coleman said New Zealand would proceed with its own domestic therapeutic regulatory reform programme.