Customs tax policy adjustments, tariffs on imported pharmaceutical products such as viral vectors for CAR-T therapy are further reduced

Customs tax policy adjustments, tariffs on imported pharmaceutical products such as viral vectors for CAR-T therapy are further reduced

Recently, the General Administration of Customs, together with the Ministry of Finance and the State Administration of Taxation, issued a major policy, announcing further reducing the tariff rate of some imported pharmaceutical products, including key raw materials such as viral vectors required for CAR-T therapy. This measure aims to promote the high-quality development of my country's biopharmaceutical industry, reduce the cost of patients' medication, and promote the introduction of international advanced medical technology. The following are policy points and industry impact analysis.

1. Background and significance of policy adjustment

With the rapid development of global biomedical technology, innovative technologies such as CAR-T cell therapy and gene therapy have gradually become important breakthrough points in cancer treatment. However, since relevant core raw materials (such as viral vectors, plasmids, etc.) rely on imports, the high tariff costs once restricted the domestic clinical application and industrialization process. This tariff adjustment is a further optimization after the first cut in 2022, reflecting the country's high support for innovative medical technology.

2. Specific tariff adjustment content

III. Industry impact analysis

1.Reduce enterprise production costs:Viral vectors are the core raw materials for CAR-T therapy, accounting for about 30%-40% of production costs. After the tariffs are lowered, it is expected that the procurement costs of domestic pharmaceutical companies will be reduced by 10%-15%, providing greater space for product pricing and medical insurance negotiations.

2.Accelerate the introduction of technology:Some multinational pharmaceutical companies have stated that they will expand their exports to China. Companies such as Novartis and Gilead plan to increase the supply of viral vectors to China in the second half of 2024, further promoting the progress of domestic clinical trials.

3.Patients benefit significantly:At present, the domestic pricing of CAR-T therapy is generally more than one million yuan. After the tariffs are reduced, the terminal price is expected to drop by 5%-8%, while shortening the import approval cycle and improving the accessibility of drugs.

4. Expert opinion

Li Moumou, professor at the Cancer Hospital of the Chinese Academy of Medical Sciences, said: "This policy accurately covers the 'bottleneck' links in the biopharmaceutical industry chain, especially the reduction in tariffs on viral vectors, which will directly promote the research and development efficiency of domestic cell therapy products." A relevant person in charge of the General Administration of Customs emphasized that in the future, the access list of pharmaceutical products will be dynamically adjusted to further expand the coverage of zero tariffs.

5. International market comparison

6. Outlook

This policy adjustment is another important implementation measure after the "14th Five-Year Plan for the Development of the Pharmaceutical Industry". According to industry forecasts, China's CAR-T therapy market size is expected to exceed 5 billion yuan in 2024, a year-on-year increase of more than 60%. In the future, with the acceleration of domestic substitution process and the continuous optimization of tariff policies, China's global competitiveness in the field of innovative drugs will be further improved.

(Note: The data in the article is comprehensively compiled from the announcement of the General Administration of Customs, research by the pharmaceutical industry association and public market report)