24Extemporaneously‑prepared pharmaceutical benefit—basic wholesale price

24 Extemporaneously‑prepared pharmaceutical benefit—basic wholesale price

(1) The basic wholesale price for a drug used in the preparation of an extemporaneously‑prepared pharmaceutical benefit is the average of the wholesale cost of the drug, in a purchase quantity: (a) agreed by the Minister and the Pharmacy Guild of Australia; and (b) available from wholesale drug distributors. (2) For subsection (1), the purchase quantity must be agreed on or before 1 May in a year and takes effect on 1 August in that year. (3) Subject to subsection (4), if the calculation under subsection (1) includes a fraction of a cent, the basic wholesale price is to be rounded up or down to the nearest cent, with an amount of 0.5 of a cent or more being rounded up to the next cent. (4) The amount calculated in relation to an ingredient must not be less than
1 cent.