Maximum Fair Price definition

Maximum Fair Price means a maximum fair price under the Drug Price Negotiation Program as defined in 42 U.S.C. §1320f(c)(3) and all its subsequent amendments and replacements and guidance or regulations promulgated thereunder or any future Applicable Law in the United States that sets or imposes a cap on the price for a drug product that will be charged to, or reimbursed by, the United States (or any department or agency thereof) or any healthcare program administered by or on behalf thereof.

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Maximum Fair Price means with respect to a year during a Price Applicability Period for a Selected Drug, the price negotiated pursuant to Section 1194 (and updated pursuant to Section 1195(b), as applicable) under the Inflation Reduction Act for such drug and year.

Maximum Fair Price means, with respect to a Selected IRA Drug, the price negotiated pursuant to Section 1194 under the Inflation Reduction Act for such drug.

Examples of Maximum Fair Price in a sentence

• The calculation of the royalty reduction under this Section 7.5.4 (Inflation Reduction Act Deductions) shall be conducted separately for each Licensed Product in the U.S. Licensee shall have sole and absolute discretion with respect to any matters relating to the Exploitation of a Licensed Product which relate to or are affected by the Inflation Reduction Act, including without limitation negotiations with respect to a Maximum Fair Price.

• If a Licensed Product Commercialized in the United States is selected by the Centers for Medicare and Medicaid Services for inclusion in the Medicare Maximum Fair Price Program pursuant to 42 U.S.C. §1320f et seq.

• If the United States Department of Health and Human Services designates a Licensed Product as a Selected Drug subject to Maximum Fair Price negotiation, then, as between the Parties, AbbVie shall have the sole right, in its sole discretion, to conduct such negotiations, and all activities with respect thereto and to control all decisions and interactions with the applicable Governmental Authority(ies) with respect thereto.

• If a Financial Product is selected by the Centers for Medicare and Medicaid Services for inclusion in the Medicare Maximum Fair Price Program pursuant to 42 U.S.C. §1320f et seq.

More Definitions of Maximum Fair Price

Maximum Fair Price means the maximum fair price under the Inflation Reduction Act’s drug price negotiation program as defined in 42 U.S.C. §1320f(c)(3) and all its subsequent amendments and replacements and guidance or regulations promulgated thereunder.

Maximum Fair Price has the meaning set forth in Section 1191(c)(3) of the Social Security Act.

Maximum Fair Price means the term as set forth in the Inflation Reduction Act or, if under a similar United States state or federal law, a similar price under such United States state or federal law.

Maximum Fair Price means the maximum fair price for a drug published by the United States Secretary of Health and Human Services pursuant to 42 U.S.C. § 1320f-4.

Maximum Fair Price means with respect to a given Net Sales Product in a given year while such Net Sales Product is a Selected Drug, the price negotiated pursuant to Section 1194 (and updated pursuant to Section 1195(b), as applicable) under the Inflation Reduction Act for such Net Sales Product and such year.

Maximum Fair Price means the maximum rate for a drug published by the Secretary

Maximum Fair Price means a maximum fair price under the IRA’s drug price negotiation program as defined in 42 U.S.C. §1320f(c)(3) and all its subsequent amendments and replacements and guidance or regulations promulgated thereunder or any future Applicable Law in the United States that sets or imposes a cap on the price for a drug product that will be charged to, or reimbursed by, the United States (or any department or agency thereof) or any healthcare program administered by or on behalf thereof.