A review of drug buying agency Pharmac is being described as long overdue.

The investigation will look into the speed and transparency of the organisation's decision making.

Breast Cancer Foundation Chief Executive Evangelia Henderson told Kate Hawkesby New Zealand has fallen behind as a result of slow action.

She says we now rank 19th out of 20 countries to be receiving new medicines.

"The review just doesn't cut it. To make a difference in the future,  there needs to be more funding."

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