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NATIONAL HEALTH ACT 1953 - SECT 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.


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