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China Proposes to Eliminate Tax on Imported Cancer Drugs

publication date: Mar 21, 2018

As part of an initiative to open its economy to other countries, China plans to eliminate tariffs on some imported drugs, especially those for cancer. The move is aimed partly at China's own population, which struggles to pay the high prices of imported drugs. However, the proposed changes may be more symbolic than real cost-savers. According to one source, drugmakers pay a maximum of 6% as an import tax. If the exporting country has "most-favored nation" status (the US and other western countries are favored), the tax is just 2%. More details....

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