Brasilia, December 17, 2024 - The Brazilian government announced a new tax incentive policy for the pharmaceutical packaging industry, which will provide a 15% corporate income tax reduction for enterprises producing green and environmentally friendly pharmaceutical packaging materials. The policy is valid for 5 years and aims to promote the development of the green pharmaceutical packaging industry in Brazil.

Enterprises that use more than 70% of renewable raw materials in their products or achieve 100% recyclability of packaging can apply for the tax incentive. The Brazilian government expects that this policy will attract more than $500 million of investment in the pharmaceutical packaging industry in the next 3 years.