Foreign-Trade Zone Designation Provides Advantages for Customers
The pharmaceutical space at our North Kansas City facility is now licensed as a Foreign-Trade Zone (FTZ). The U.S. Department of Commerce defines an FTZ as a site “at which special customs procedures may be used. These procedures allow domestic activity involving foreign items to take place prior to formal customs entry” and “allowing delayed or reduced duty payments on foreign merchandise, as well as other savings.” Because we can now receive client’s foreign merchandise, this designation now provides them with numerous advantages:
- Avoid the Uncertainty of International Shipping – Strained supply chains have products backed up around the world, with international shipping being especially susceptible. Customers beginning clinical trials can avoid this headache by shipping product to us, which we will hold in the FTZ while they await their Investigational New Drug (IND) permit from the FDA. When it is then approved, that product will be ready for prompt importation and distribution for use in a clinical trial.
- Defer Duty Payments – For pharmaceutical substances that are intended to be manufactured into a product or a drug product that is brought into this country, using the FTZ can potentially help lower duty payments. Once imported, customers can then choose to pay the duty when it was admitted to the FTZ or the duty when it is imported to the United States, potentially lowering the rate.
- Eliminate Duties – These same substances and products can be brought into the U.S. and stored in the FTZ for an indefinite period and until they’re needed. If that product is not used in the U.S., but instead shipped to another country for use or further manufacturing, it will not be subject to duties in this country. By eliminating U.S. duties, manufacturers can significantly reduce their costs.
This unique offering is appealing to customers across the industry, but especially those small or virtual manufacturers who may not have access to space of their own. In addition, the FTZ is in the same facility as our newly expanded repository and recently established biorepository. This combination of offerings is exceptionally unique, providing clients the opportunity to have their needs met in a single, centralized facility.
Getting Started with MRIGlobal
Contact MRIGlobal to further understand our work in pharmaceutical sciences. We help clients develop faster bench-to-bedside processes to deliver therapeutic drugs to clinics for efficacy testing. We also bridge the gap between drug discovery and commercialization, moving the product through the complex investigational new drug application process. This highly-regulated work ensures drugs are safe for patients based on rigorous method validation and stability testing.
As a not-for-profit contract research organization, we have proven ourselves as an objective partner driven to make our clients’ products more successful. We specialize in defense, human health, pharmaceutical sciences, in-vitro diagnostics, energy and environment, agriculture, and global health.
To learn more about the work we’ve done or how we can help you, contact us today. If you are part of an agency, business, or academic institution seeking assistance with a project, use our Project Quote Tool to get started.
Sign up for our newsletter
Sign up for the MRIGlobal newsletter! It’s the best way to get the latest updates in the world of applied scientific engineering research delivered directly to your inbox.