maximum fair price
Defined in 2 places across 2 titles of the United States Code.
The term “maximum fair price” means, with respect to a year during a price applicability period and with respect to a selected drug (as defined in section 1320f–1(c) of this title) with respect to such period, the price negotiated pursuant to section 1320f–3 of this title, and updated pursuant to section 1320f–4(b) of this title, as applicable, for such drug and year.
Source
- 2022–present42 U.S.C. § 1320fThe Public Health and Welfare · Establishment of program · for purposes of this part
The terms "initial price applicability year", "price applicability period", and "maximum fair price" have the meaning given such terms in section 1191 of the Social Security Act.
Source
- 2022–present26 U.S.C. § 5000DInternal Revenue Code · Designated drugs during noncompliance periods · for purposes of this section