AbbVie, Inc. has submitted a request to the Foreign-Trade Zones (FTZ) Board to expand its production activities at facilities in North Chicago and Lake County, Illinois. The company wants permission to produce a new pharmaceutical product and include a foreign material, specifically the active ingredient Ibrutinib, which has a duty rate of 6.5%. If approved, AbbVie could avoid paying certain customs duties on materials used in exports, and there are opportunities for reduced customs duties on waste components. Public comments on this request are open until March 15, 2021, and more details are available on the FTZ Board's website.
Simple Explanation
AbbVie, a company in Illinois that makes medicines, wants permission to make a new medicine using a special ingredient from another country. If they get permission, they might pay less money in taxes when they bring in materials from other countries and send their medicines to other places. People can share their thoughts about this until March 15, 2021.