Maximum Fair Price definition

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 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.

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.

Examples of Maximum Fair Price in a sentence

• Application of Maximum Fair Price to Medicare and Other PayersThe maximum fair price would be applied to Medicare, with flexibility for Medicare Advantage and Medicare Part D plans to use additional tools to negotiate even lower prices.

• 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.

• Most concerning is the bill’s reference to the Medicare Maximum Fair Price (MFP), a concept created in the federal Inflation Reduction Act (IRA), signed into law a mere seven months ago.

• In order to qualify for advancement on the salary schedule, professional employees who expect to change educational levels from one year to the next must provide written notice of intent to the Superintendent by November 1st of the year prior to advancement.

• To “accept,” a manufacturer must “formalize agreement on an MFP” by signing an “Addendum” that “sets forth the agreed-upon MFP.” Id. at 159; see also Template Agreement at 7 (setting forth this “Negotiated Maximum Fair Price Addendum”).

• Id. at 159; see also Template Agreement at 7 (“Negotiated Maximum Fair Price Addendum”).

• 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.

• They had met a few months ago and she had even shaken his hand when he introduced himself.

More Definitions of Maximum Fair Price

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

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.

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

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.