Varian Expects to Benefit from the Extension of Medical Linear Accelerators Tariff Exclusion in China

Rhea-AI Summary

Varian (NYSE: VAR) has received a one-year extension on the tariff exclusion for its medical linear accelerators from the Chinese government, effective from September 17, 2020 to September 16, 2021. This decision highlights China's commitment to combat cancer and shows recognition of the importance of radiotherapy. The CEO, Dow Wilson, expressed gratitude for this extension, emphasizing its role in enhancing cancer care initiatives. This exemption allows Varian to focus on delivering innovative cancer treatment solutions without the added burden of tariffs.

Positive

• One-year extension of tariff exclusion for medical linear accelerators in China enhances competitive positioning.
• Demonstrates support from the Chinese government for Varian's mission against cancer.

Negative

• None.

PALO ALTO, Calif. and BEIJING, Sept. 16, 2020 /PRNewswire/ -- Varian (NYSE: VAR) has received notice from the Customs Tariff Commission of the State Council of China that the first exclusion of the additional tariffs China imposed on US products will expire on September 16, 2020. In accordance with procedures, the exclusion will be extended by one year, from September 17, 2020 to September 16, 2021. Varian medical linear accelerators are one of the first items to be excluded from additional tariffs.

"We are grateful for the extension. It demonstrates China government's determination to fight cancer and its recognition of the positive impact of radiotherapy treatments," said Dow Wilson, chief executive officer of Varian. "Together, we can develop and provide a more intelligent cancer care solutions to accelerate our pace toward the vision of a world without fear of cancer. The extension of exemption allows us to continue to focus on the fight against cancer."

About Varian

At Varian, we envision a world without fear of cancer. For more than 70 years, we have developed, built and delivered innovative cancer care technologies and solutions for our clinical partners around the globe to help them treat millions of patients each year. With an Intelligent Cancer Care approach, we are harnessing advanced technologies like artificial intelligence, machine learning and data analytics to enhance cancer treatment and expand access to care. Our 10,000 employees across 70 locations keep the patient and our clinical partners at the center of our thinking as we power new victories in cancer care. Because, for cancer patients everywhere, their fight is our fight. For more information, visit http://www.varian.com and follow @VarianMedSys on Twitter.

Press Contacts
Aimee Corso
Health + Commerce
+1 (310) 780-2661
aimee@healthandcommerce.com

Investor Relations Contact
Anshul Maheshwari
Vice President, Investor Relations
+1 (650) 424-5631
investors@varian.com

 

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SOURCE Varian

FAQ

What is the recent tariff exclusion news for Varian (NYSE: VAR)?

Varian received a one-year extension for its tariff exclusion on medical linear accelerators in China, effective from September 17, 2020.

How does the tariff exclusion affect Varian's business operations?

The extension allows Varian to operate without the burden of additional tariffs, enabling them to focus on innovative cancer care solutions.

What date did the original tariff exclusion for Varian expire?

The original tariff exclusion expired on September 16, 2020.

What are Varian's plans in response to the tariff exclusion extension?

Varian plans to continue developing and providing advanced cancer care solutions, leveraging the support from the Chinese government.