Kiwis have slower and less access to the newest and most innovative medicines than their OECD counterparts, according to a report out this week.

The study, commissioned by pharmaceutical industry body Medicines Australia, shows New Zealand is lagging behind every one of the 19 other OECD countries it examined when it comes to access to new medicines. Of all available new medicines approved by Medsafe, just 13 per cent were Pharmac-funded.

Portugal ranks second worst with access to 16 per cent of new medicines, while Australia ranks third worst with access to 39 per cent.

Japan ranks highest with access to 93 per cent.

When it comes to gaining funded access to the most innovative medicines, New Zealand ranks second worst, with just 11 per cent of "first in class" medicines being Pharmac-funded - well below the OECD average of 55 per cent.

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