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(b) * * *
(21)(i) Update any prescription drug pricing standard (as defined in Sec. 423.501) based on the cost of the drug used for reimbursement of network pharmacies by the Part D sponsor on January 1 of each contract year and not less frequently than once every 7 days thereafter;
(i) Update any prescription drug pricing standard (as defined in Sec. 423.501) based on the cost of the drug used for reimbursement of network pharmacies by the Part D sponsor on January 1 of each contract year and not less frequently than once every 7 days thereafter;
(ii) Indicate the source used for making any such updates; and
(iii) Disclose all individual drug prices to be updated to the applicable pharmacies in advance of their use for reimbursement of claims, if the source for any prescription drug pricing standard is not publicly available.
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(i) * * *
(3) * * *
(vii) If applicable, provisions addressing the drug pricing standard requirements of Sec. 423.505(b)(21).
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