; and (bb) not greater than 1 percent of the gross revenues from sales of such drug for the most recently completed calendar year; and (II) the number of days in the period between— (aa) the applicable date specified in subparagraph (C); and (bb) the date on which the Inspector General receives the information described in subparagraph (A) from the applicable entity. (C) Submission deadline An applicable entity shall submit each quarterly report described in subparagraph (A) not later than January 17, April 18, June 15, and September 15 of each calendar year. (3) Assessment (A) In general Not later than the last day in February of each year, the Inspector General, in consultation with the Federal Trade Commission, shall complete an assessment of the information the Inspector General received pursuant to paragraph (2)(A) with respect to sales of prescription drugs in the most recently completed calendar year. (B) Elements The assessment required by subparagraph (A) shall include the following: (i) Identification of each price spike relating to a prescription drug in the most recently completed calendar year. (ii) For each price spike identified under clause (i)— (I) a determination of the price spike percentage and price spike revenue; (II) a determination regarding the accuracy of the information submitted by the applicable entity regarding increased input costs