Indianapolis—June 18, 2013—Global provider of high-quality pharmaceutical third party logistics (3PL) services MD Logistics now has Foreign Trade Zone (FTZ) status— just 18 months after the company activated its retail logistics operation. When a customer’s imported product arrives at a U.S. port, it can be moved immediately to MD Logistics facilities without waiting for customs clearance. This creates a significant advantage when dealing with the delivery of sensitive pharmaceuticals, most of which require storage at a constant temperature of two to eight degrees Celsius.
“Products stored in an FTZ are considered to still be on foreign ground, which delays payment of customs fees,” said Jeff Luthman, Vice President of Life Science Solutions, MD Logistics. “With our FTZ status and our expertise in handling pharmaceuticals, customers can be assured of their product’s integrity when it reaches the end user, the consumer.”
Being able to rapidly move expensive and sensitive pharmaceuticals significantly reduces the risk of handling such product, as well as substantially reducing costs incurred by the shipper. It also enhances MD Logistics’ customer service on an international scale, from order entry to final delivery. Products are considered still on foreign ground while they are stored in an FTZ environment, and customers do not have to pay customs fees until the product is consumed or moved out of the FTZ.
“MD Logistics sees this as an opportunity to increase jobs and business in Indianapolis,” said John Sell, Vice President of Retail and Transportation Services, MD Logistics. “We’re excited to launch a service that will profoundly improve efficiency and significantly lower the cost of our services on a global scale, as well as grow our business locally.”