Hong Kong

Why Hong Kong

Hong Kong's pharmaceutical market, valued at $2.5 billion, offers a lucrative opportunity for imported drugs, propelled by a sophisticated healthcare system and a 7.4 million population. The market's projected growth rate of 6.5% positions it attractively for innovative solutions and is a compelling opportunity for pharmaceutical companies looking to expand their global footprint.

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Hong Kong is also renowned for its simple and low tax system where only income derived from or generated in Hong Kong is subject to taxation. There is no capital gains tax, value-added tax (VAT), or Goods and Services Tax (GST) in Hong Kong.

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The regulatory framework, primarily governed by the Pharmacy and Poisons Ordinance and the Chinese Medicine Ordinance, ensures the safety and quality of Western and Chinese medicines which are widely used by the Hong Kong population. 

However, the regulatory environment presents challenges with its multiple ordinances including the Import and Export Ordinance, Undesirable Medical Advertisements Ordinance, Antibiotics Ordinance, and the Dangerous Drugs Ordinance etc.

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The regulatory authorities strive to uphold international standards despite these complexities. Successfully navigating these regulatory complexities is crucial for tapping into the potential of Hong Kong's pharmaceutical industry, ensuring accessibility without compromising quality and safety.