Effectively Calculate Clinical Material Valuation In The US And Europe
By Gavin Morgan, Senior Manager, Global Logistics, Rich Nelson, Senior Manager, Global Logistics, PCI Pharma Services
How to effectively calculate IMP and clinical material valuation in the US and Europe?
When biotech and pharma companies transport investigational medicinal products (IMPs) internationally, they are often required to pay import fees. Understanding customs valuation for IMPs and clinical material in the US and Europe will put you ahead of the game.
Download this article to learn how to effectively calculate IMP and clinical material valuation and the impact of using these valuations within the US and Europe.
These taxes are based on the shipment’s value; however, determining that value can be challenging. Paradoxically, while the investigational medicinal products (IMPs) are not actually being sold, governments consider each shipment a sale. As always, the goal is to value these items accurately – estimating too high can increase a company’s customs obligation, and estimating too low can have short- and long-term tax ramifications. To further complicate matters, every country has a different tax rate.
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