§ 3761-707. Lowered best price
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal Affairs
72 P.S. § 3761-707
§ 3761-707. Lowered best price
(a) General rule.--If the rebate under section 705 and the discount under section 706 would establish a lowered Federal best price, as defined in section 1927(c)(1)(C) of the Social Security Act (49 Stat. 620, 42 U.S.C. § 1396r-8(c)(1)(C)), the manufacturer shall be liable for a total rebate and discount in an amount that does not reduce the Federal best price for that covered prescription drug.
(b) Procedure.--Any claim by a manufacturer that a rebate would establish a lower Federal best price under subsection (a) shall be verified in writing by a department-approved independent public accounting firm within 45 days of the end of the quarter for which the claim is asserted. The information provided to the public accounting firm shall remain confidential.
Credits
1971, Aug. 26, P.L. 351, No. 91, § 707, added 1996, Nov. 21, P.L. 741, No. 134, § 2, imd. effective.
72 P.S. § 3761-707, PA ST 72 P.S. § 3761-707
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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