99ACK5% statutory price reduction for drugs on F1—15th anniversary

99ACK 5% statutory price reduction for drugs on F1—15th 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 15th 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, on the day before the 5% price reduction day, has not been reduced under subsection 99ACF(1) or (2) because of: (i) item 4 in the table in section 99ACF on a previous 5% price reduction day; or (ii) item 6 in the table in section 99ACF on 1 June 2018. (2) In this section, each of the following is a 5% price reduction day: (a) 1 April 2019; (b) 1 April 2020; (c) 1 April 2021.