Document ID: chunk:federal_register_of_legislation:C2007A00111:clause:1_99adb
Version: federal_register_of_legislation:C2007A00111
Segment Type: clause
Provision Reference: sch 1 cl 99ADB
Character Range: 62464–65284

99ADB  Definitions etc.

 (1) In this Division:

adjusted approved ex‑manufacturer price of a brand of a pharmaceutical item is the amount equal to the amount of the weighted average disclosed price of the brand of the pharmaceutical item.

adjusted approved price to pharmacists of a brand of a pharmaceutical item is the amount worked out in accordance with regulations made under subsection (2).

approved ex‑manufacturer price of a brand of a pharmaceutical item is the amount worked out in accordance with regulations made under subsection (3).

price disclosure requirements has the meaning given by section 99ADC.

weighted average disclosed price of a brand of a pharmaceutical item is the weighted average disclosed price of the brand of the pharmaceutical item determined by the Minister under subsection (4) or (5).

Adjusted approved price to pharmacists

 (2) For the purposes of the definition of adjusted approved price to pharmacists in subsection (1), the regulations may, by reference to the adjusted approved ex‑manufacturer price of a brand of a pharmaceutical item, prescribe a method or formula for working out the adjusted approved price to pharmacists of the brand of the pharmaceutical item.

Approved ex‑manufacturer price

 (3) For the purposes of the definition of approved ex‑manufacturer price in subsection (1), the regulations may, by reference to the approved price to pharmacists of a brand of a pharmaceutical item, prescribe a method or formula for working out the approved ex‑manufacturer price of the brand of the pharmaceutical item.

Weighted average disclosed price

 (4) The Minister may, by legislative instrument, determine the weighted average disclosed price of a brand of a pharmaceutical item in accordance with the regulations.

 (5) If the Minister makes a determination under subsection (4) in relation to a brand of a pharmaceutical item (the first item), the Minister must, by legislative instrument, determine, in accordance with the regulations, the weighted average disclosed price of every brand of every pharmaceutical item that has the same drug and manner of administration as the first item.

 (6) Without limiting subsection (4) or (5), the regulations may prescribe a method or formula for determining the weighted average disclosed price of a brand of a pharmaceutical item. The method or formula prescribed may take into account information (if any) that has been provided in compliance with the price disclosure requirements, and any other information, about:
 (a) the brand of the pharmaceutical item; and
 (b) other brands of the pharmaceutical item; and
 (c) all brands (including the brand) of all pharmaceutical items that have the same drug and manner of administration as the pharmaceutical item.

Subdivision B—Price disclosure requirements