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Background
Above all the pharmaceutical sector
is characterised by massive R&D spending and stringent regulatory
controls.
Customs and international trade issues
While customs duties are decreasing
globally in many industry sectors,
the pharmaceutical industry is still
suffering from positive duty rates on certain imported
goods, particularly compounds. In addition to customs
duty, which is non-recoverable, there
are also significant costs associated
with the physical movement of goods and arranging to have the
goods
cleared through Customs.
Solutions to help you succeed
Counterfeiting
is a huge issue for pharmaceutical companies. As well as the
reduced revenue to genuine pharmaceutical
companies, there are major health risks associate with using counterfeit
pharmaceuticals. We can ensure, on a
global basis, that pharmaceutical companies
are “registered” with
the relevant Customs authority, to check
for counterfeit goods on importation
and exportation.
Some countries require that goods are
of a certain value before they can be imported. We can utilise customs
valuation planning techniques that ensure any customs duty payable
is kept to the lowest amount possible whilst satisfying the pricing
restrictions.
In addition, we can help pharmaceutical
companies to reduce:
- The impact of customs duty by strategic use of duty planning measures;
- The costs of clearing goods through customs by strategic implementation of simplified clearance procedures; and
- The impact of non-tariff barriers such as licensing requirements.
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