99ACJA5% statutory price reduction for drugs on F1—tenth anniversary

99ACJA 5% statutory price reduction for drugs on F1—tenth 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 tenth anniversary of the drug being a listed drug; and (c) the approved ex‑manufacturer price of the brand of the pharmaceutical item has not been previously reduced under subsection 99ACF(1) or (2) because of: (i) item 3 in the table in section 99ACF; or (ii) item 3A in the table in section 99ACF; or (iii) item 5 in the table in section 99ACF; or (iv) item 7 in the table in section 99ACF; and (d) subsection 99ACR(4) has not applied to the brand of the pharmaceutical item; and (e) on or before the 5% price reduction day, the approved ex‑manufacturer price of the brand of the pharmaceutical item has not been previously reduced: (i) because of repealed section 99ACE or repealed section 99ACH; or (ii) under section 99ACQ; or (iii) under subsection 99ACR(3).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.