Russian proposal to zero customs duties on imports of APIs

The Russian Parliament (State Duma) has proposed zeroing of customs duties on the imports of active pharmaceutical ingredients (APIs), in a move to ensure stabilization of prices for some most demanded drugs available in the domestic market, according to recent statements, made by representatives of the Duma and local pharma analysts, reports The Pharma Letter’s local correspondent.

At present, the rate of duty for active ingredients imported into Russia is set at 5%, thus zeroing will provide significant savings for importers.

In general, in recent years, imports of active ingredients that are used in pharmaceutical production in Russia have significantly increased and amounted to 132 billion roubles ($1.89 billion) in 2019, which is a record figure for the country in the last 20 years.