Summary

Amends the

to: increase the current statutory price reduction that applies when the first new brand of an existing pharmaceutical item is listed on the Pharmaceutical Benefits Scheme (PBS); extend and introduce statutory price reductions applying on certain anniversaries of an F1 formulary drug being listed on the PBS; introduce ministerial discretion in relation to the application of statutory price reductions in certain circumstances; make minor amendments to price disclosure arrangements; provide new circumstances whereby a new presentation of a brand of pharmaceutical item may be listed without being subject to a new brand statutory price reduction; continue the operation of the Australian Community Pharmacy Authority and the pharmacy location rules beyond 30 June 2020; and make technical amendments.