99ACHA5% statutory price reduction for drugs on F1—fifth anniversary

99ACHA 5% statutory price reduction for drugs on F1—fifth anniversary

(1) This section applies to a brand of a pharmaceutical item on a 5% price reduction day if: (a) the drug in the pharmaceutical item is on F1 on the 5% price reduction day; and (b) the 5% price reduction day is on or after the fifth anniversary of the drug being a listed drug; and (c) the approved ex‑manufacturer price of a brand of a pharmaceutical item that has the drug has not been reduced under subsection 99ACF(1) or (2) because of repealed section 99ACH on a previous 5% price reduction day. (2) In this section, each of the following is a 5% price reduction day: (a) 1 April 2016; (b) 1 April 2017; (c) 1 April 2018; (d) 1 April 2019; (e) 1 April 2020; (f) 1 April 2021; (g) 1 April 2022.