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Unique Offering Provides Financial & Operational Advantages for Global Life
Science Companies
INDIANAPOLIS, Nov. 7 /PRNewswire/ -- Sentry Logistic Solutions today launched a Foreign Trade Zone (FTZ) Service targeting pharmaceutical and biotechnology companies engaged in international business. This FTZ Service fully integrates with Sentry's current services and creates significant financial advantages and supply chain efficiencies for life science organizations that import a high volume of materials such as active pharmaceutical ingredients (API), pharmaceutical manufacturing and packaging materials and biopharmaceutical components into the United States.
According to the Foreign Trade Zone Corporation, companies that utilize a FTZ can save up to 90 percent annually on import fees, depending upon the frequency of inventory shipments. Sentry's clients can benefit financially from inverted tariffs, duty exemption on re-exports, weekly entry savings and duty deferrals for importing a broad range of pharmaceutical and biotechnology materials and products. This FTZ Service provides additional advantages including increased confidence in product integrity; reduced utilization of internal resources; improved control of products awaiting customs clearance; and enhanced scalability for better managing fluctuating import volume.
The new FTZ Service features end-to-end import and export management of
pharmaceutical and biotechnology products and components. Sentry helps its
clients leverage the FTZ designation to their greatest advantage by
creating a customized storage, logistics and distribution strategy that
matches their specific import-export activity profile, financial objectives
and product- handling requirements. As part of the FTZ Service, Sentry
assesses, handles and facilitates proper U.S. customs documentation and
procedures on behalf of its clients. It also stores and distributes its
clients' products from its s
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