Price agreements
85AD Price agreements
The Minister and the responsible person for a listed brand of a pharmaceutical item may, from time to time, agree, by reference to the pricing quantity of the brand of the pharmaceutical item, an amount that is, for the purposes of this Part, taken to be the appropriate maximum price of the brand of the pharmaceutical item.
Section 85C and Division 3A limit the Minister’s power to agree to amounts for the purposes of subsection (1).
It does not matter that at the time the agreement is made:
the person is not yet the responsible person; or
the item is not yet a pharmaceutical item; or
the quantity or number of units of the item is not yet a pricing quantity; or
the brand is not yet a listed brand.
However, those matters must be satisfied at the time the amount referred to in subsection (1) comes into force.
The agreement must be in writing.
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