Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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 fifth anniversary of the drug being a listed drug; and
(c) subsection 99ACR(4) has not applied to the brand of the pharmaceutical item; and
(d) on or before the 5% price reduction day, the approved ex - manufacturer price of the brand of the pharmaceutical item has not been reduced:
(i) under subsection 99ACF(1) or (2); or
(ii) because of repealed section 99ACE or repealed section 99ACH; or
(iii) under section 99ACQ; or
(iv) 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.