Document ID: chunk:federal_register_of_legislation:C2025C00090:section:99ack
Version: federal_register_of_legislation:C2025C00090
Segment Type: section
Provision Reference: s 99ACK
Character Range: 363184–364017

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.