; (ii) identifying the drug the importer proposes to import and the manufacturer from whom the importer proposes to import such drug; and (iii) requesting authority to import the drug. (2) Beginning date of importation Except as provided in paragraph (3), if all of the conditions under paragraph (1) are met, the Secretary shall authorize importation of a drug in accordance with such paragraph beginning not later than 60 days after receipt of the information under paragraph (1)(E). (3) Discretionary denial of importation The Secretary may deny importation of a drug otherwise qualified for importation under paragraph (1) if the Secretary determines that— (A) the drug is not safe and effective; (B) the drug is used in conjunction with a device for which there is no reasonable assurance of safety and effectiveness; or (C) the authorization to market the drug in one or more of the countries included in the list under section 802(b)(1) has been rescinded or withdrawn because of any concern relating to the safety or effectiveness of the drug. (4) Termination of authority The authority to import a drug pursuant to paragraph (1) shall terminate after 3 years, or when the drug shortage no longer applies, whichever occurs first. . (b) Noncompetitive drug markets Chapter V of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 351 et seq.) is amended by inserting after section 506C–1 the following: 506C–2. Noncompetitive drug markets (a) In general If the Secretary determines under subsection (b) that a noncompetitive market exists with respect to an applicable drug, the Secretary— (1) shall treat such noncompetitive market as creating a drug shortage only for purposes of subsections (g) and (h) of section 506C; and (2) (A) may expedite the review of applications and inspections with respect to the drug in accordance with section 506C(g)