99ACHB5% statutory price reduction for drugs on F1—fifth anniversary

99ACHB 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) subsection 99ACR(4) has not applied to the brand of the pharmaceutical item; and (d) on or before the 5% price reduction day, the approved ex‑manufacturer price of the brand of the pharmaceutical item has not been reduced: (i) under subsection 99ACF(1) or (2); or (ii) because of repealed section 99ACE or repealed section 99ACH; or (iii) under section 99ACQ; or (iv) under subsection 99ACR(3). (2) In this section, each of the following is a 5% price reduction day: (a) 1 April 2023; (b) 1 April 2024; (c) 1 April 2025; (d) 1 April 2026; (e) 1 April 2027.