42 U.S.C. § 1320f–4 — Publication of maximum fair prices

(a) In general. For a selected drug and an initial price applicability year: (1) By November 30 of the year two years before that initial year, the Secretary must publish the maximum fair price negotiated under this part. (2) By March 1 of the year before that initial year, and subject to section 1320f–2(c), the Secretary must publish an explanation of that maximum fair price and how the factors in section 1320f–3(e) were applied to the drug. (b) Updates. (1) Maximum fair prices for later years. For each year after the first initial price applicability year, if an agreement under section 1320f–2 is in effect, the Secretary must publish the price by November 30 of the year two years before that later year. The price is: (A) unless subparagraph (B) applies, the previous year's published maximum fair price increased by the annual percentage increase in the consumer price index for all urban consumers, all items, United States city average, during the 12 months ending with the July immediately before that November 30; or (B) if the price was renegotiated, the renegotiated maximum fair price for the first year to which that renegotiated price applies. (2) Prices determined after the deadline. If a selected drug's maximum fair price for an initial year is determined after the publication date under this section, the Secretary must publish it no later than 30 days after the date on which it is determined.