Paragraph 1

Subject to sub-paragraph (2) below, “turnover” means, for the purposes of calculating the periodic fee payable in connection with the holding of a licence for a relevant licence fee period, the gross value at manufacturer’s prices of all medicinal products to which the licence relates which are sold or supplied in the United Kingdom by the holder of the licence during the year which ends on the 31st December preceding the beginning of that licence fee period.

For the purposes of calculating the periodic fee payable in connection with the holding of licences mentioned in Part IV of this Schedule for a relevant licence fee period, the quantity of products taken for the purposes of sub-paragraph (1) above is the aggregate of all the products to which the licences relate.