Import Tariffs On Cancer Drugs Cut To Zero

China may be about to levy huge taxes on American imports like sorghum and soy, but this week, it removed all import tariffs on cancer drugs.

All types of cancer treatments, including chemotherapy drugs, alkaloid-based drugs, and imported traditional Chinese medicines used for cancer, will be exempted from import duties, according to Xinhua News Agency (in Chinese).

The average total out-of-pocket cost of cancer patients receiving diagnosis and treatment is currently between 140,000 yuan ($22,105) and 220,000 yuan ($34,737), according to a recent study cited by Xinhua. The tariff cut is expected to lower costs by about 20 percent.

“Patients with breast cancer and lymphoma are undoubtedly the most excited,” says Xinhua, as there are no suitable locally-produced drugs such as trastuzumab and rituximab.

In other cancer drug news, Caixin reports (paywall) that Innovent, a Suzhou-based biotech startup, has closed a new $150 million funding round, which it will use to “accelerate its clinical trial work” on biologically based anti-cancer drugs known as PD-1 inhibitors.