Document ID: chunk:federal_register_of_legislation:C2010A00126:clause:2_99ac
Version: federal_register_of_legislation:C2010A00126
Segment Type: clause
Provision Reference: sch 2 cl 99AC
Character Range: 9876–11824

99AC  What this Division is about

      This Division is about price reductions for listed brands of pharmaceutical items.
      Subdivision B requires there to be at least a 12.5% price reduction in the price of a new brand of a pharmaceutical item (other than a combination item) when it lists. The listing of the new brand of the pharmaceutical item also provides a trigger for price reductions to occur under Subdivision D (see section 99ACH) for:
         (a) other existing brands of the pharmaceutical item; and
         (b) existing brands of pharmaceutical items that have the same drug and manner of administration; and
         (c) existing brands of pharmaceutical items that have a drug in the same therapeutic group and the same manner of administration.
      Subdivision C sets out the circumstances in which price reductions are required for combination items.
      Subdivision CA sets out the circumstances in which price reductions are required for new brands of pharmaceutical items that have the same drug as an existing brand of a pharmaceutical item that is subject to an outstanding staged reduction under section 99ACK. The listing of the new brand or brands also provides a trigger for price reductions to occur under Subdivision D (see sections 99ACM and 99ACN) for existing brands of pharmaceutical items that have that drug.
      Subdivision D provides for other price reductions for pharmaceutical items (including for combination items in some cases). These price reductions:
         (a) are triggered when Subdivision B applies to require a 12.5% price reduction to a new brand of a pharmaceutical item; or
         (b) are triggered when Subdivision CA applies to a new brand of a pharmaceutical item that has the same drug as an existing brand of a pharmaceutical item that is subject to an outstanding staged reduction; or
         (c) arise if the pharmaceutical item has a drug on F2 on a particular day.