Within the pharmaceutical industry, the biosimilars business is growing and consolidating both internationally and locally. It is within this framework that MERCOSUR announced the new tariff to be implemented.
MERCOSUR: new tariff for biological and biosimilar without Latin equity
Home/Policies & Legislation | Posted 03/09/2021 0 Post your comment
MERCOSUR is an open and dynamic process. Since its creation, its main objective has been to promote a common space that generates business and investment opportunities through the competitive integration of national economies into the international market. MERCOSUR is the Customs Union between the States Parties to the Southern Common Market. Its full members are Argentina, Brazil, Paraguay, and Uruguay. Venezuela is a full member but has been suspended since 1 December 2016. Associate member countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Suriname.
On 5 May 2021, by means of the Decree 297, the Argentinian Government incorporated a series of bio-based products to the Common External Tariff (Arancel Externo Común, A.E.C) list. The aim is to establish differential rates of Extra-zone Import Duties (Derechos de Importación Extrazona, DIE).
According to Pharmabiz, the Indian pharmaceutical industry portal, which conducted a special investigation to identify which laboratories are affected, it emerged that there are six active substances of innovator biological products or biosimilars which will be charged with a tariff of 14% as from May 2021, see Table 1. So, it will mainly be the laboratories with Latin equity that have long been inclined to invest in the biosimilars business that will be mostly favoured.
|Table 1: Biologicals and biosimilars with 14% tariffª compared to biosimilars produced in Argentina|
|Biological/Biosimilar with 14% tariff||Biosimilar produced in Argentina|
|Active substance||Product Name||Company, Country||Product Name||Laboratory|
|interferon beta 1a||Rebif NF||Merck, Italy||Megavex Blastoferon||
|Avonex Pen||Biogen, Denmark|
|somatropine||Norditropin Flexpro||Novo Nordisk, Denmark||HHT Pen||Biosidus|
|Hutrope||Eli Lilly, France|
|Genotropin||Pfizer, Belgium/ Germany/Sweden|
|teriparatide||Forteo||Eli Lilly, France||Osteofortil||Biosidus|
ªAs from May 2021.
Prices for arthritis biologicals in Latin America
LATIN AMERICAN FORUM
The brand-new section the ‘Latin American Forum’ on GaBI has been launched. The objective of this new section is to provide you with all the latest news and updates on developments of generic and biosimilar medicines in Latin America in Spanish.
View this week’s headline article: Biosimilares e intercambiabilidad en oncología
Browse the news in the Latin American Forum!
LATIN AMERICAN FORUM
Se ha lanzado la nueva sección del ‘Foro Latinoamericano’ sobre GaBI. El objetivo de esta nueva sección es brindarle las últimas noticias y actualizaciones sobre desarrollos de medicamentos genéricos y biosimilares en América Latina en español.
Vea el artículo principal de esta semana: Biosimilares e intercambiabilidad en oncología
Explore las noticias en el Foro Latinoamericano!
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Source: CAFABO, MERCOSUR