China to exempt import tariffs on cancer drugs

CNC
Added On April 14, 2018

China will exempt import tariffs on all cancer drugs and encourage the import of more innovative drugs. 
 
China Report has more.
 
From May 1, import tariffs on all common drugs including cancer drugs, cancer alkaloid-based drugs, and imported traditional Chinese medicine will be exempted. 
 
Value added tax in the production and import of drugs will drop by a large margin.
 
The authorities will reduce the prices of cancer drugs through centralized government procurement and eliminate premium prices for drugs by means of cross-border e-commerce. 
 
Meanwhile, imported innovative drugs, especially much-needed cancer drugs, will be incorporated into the catalogue of medical insurance reimbursement.
 
Intellectual property rights protection of the drugs will also be strengthened.