Pharmaceuticals import/export guide for Australia

If you’ve considered launching a pharma import/export business out of Australia, here’s where to start.

Updated Feb 14, 2020

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Australia’s pharmaceutical market is estimated to be worth $8.9 billion. You can grab a slice of the pie by starting your own trading company. From controlled substances to medical compounds, you can build a thriving pharmaceuticals business that facilitates trade around the world.

Types of import/export businesses

Import/export businesses fall into three main types. What’s best for you comes down to where your interests lie.

Export management company

An export management company (EMC) helps a company in Australia export its medicines and pharmaceuticals. It manages tasks such as hiring distributors, developing marketing materials and preparing shipping logistics.

Export trading company

An export trading company (ETC) looks into the needs of foreign buyers and finds domestic companies in Australia to meet those needs.

Import/export merchant (or free agent)

This involves buying the merchandise directly from the manufacturer – overseas or local – and then reselling it abroad. It involves a bigger risk, but it can lead to higher profits without the middleman that the other business types involve.

Check out our guide for more on starting your own import/export company

Types of pharmaceuticals

To meet the needs of your target customers, you need to choose the pharmaceuticals that you’ll offer. Choose something that you have the most experience with. For instance, do you have a science background with knowledge of medical compounds? Have you worked with controlled substances in a hospital setting? Do you know about a specific sector of the medical industry?

Existing experience with your target area is a plus, but having a passion for it widens your advantage. You’ll understand the jargon of your niche and you may already have contacts.

The pharmaceuticals market

Controlled medicines and substances.
Medicinals, botanicals, and dietary supplements.
Pharmaceutical preparations.
In vitro diagnostics.
Veterinary drugs.

Top import/export countries for pharmaceuticals

Export:

China: $817 million
New Zealand: $143 million
United States: $135 million
Japan: $98 million
Turkey: $61.2 million

Import:

Ireland: $1.03 billion
Germany: $785 million
United States: $605 million
Switzerland: $551 million
United Kingdom: $340 million

Source: The Observatory of Economic Complexity, 2016 data.

Do I need a licence or permit to import/export pharmaceutical goods?

A majority of pharmaceuticals will need either a licence, permit or both to be imported or exported in Australia. To find out what requires permission to import and export, visit the Office of Drug Control’s website (ODC). This index can also tell you what you’ll need in the way of permits and licences. Let’s look at a few examples.

Name	What application will I need?	Import permit needed?	Import licence needed?	Export licence and permit needed?
Morphine	Narcotic/psychotropic application	Yes	Yes	Yes
Testosterone	5G/5H	Yes	No	No

This info is sourced from the ODC’s website on 6 November 2018.

If you’re not selling them on, you can get most therapeutic goods sent to you from overseas for personal use. This is what’s referred to by the government as the “personal importation scheme”. These products don’t need to be approved in Australia for supply, which means you should pay close attention to safety and quality.
You’ll still need to see if the product is legally able to be imported into Australia, which is a different issue to that of being approved for supply. There are strict rules around how much you can order, so make sure you do your research first.

International billing and payments

Your new business will require you to make and receive international payments, which means you’ll make transactions between currencies and across borders.

You can safely and affordably manage your business payments – with lower fees and stronger exchange rates – by comparing the services of a money transfer specialist.

Compare international money transfer options for importing and exporting pharmaceuticals

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
AUD 2,000	1 day	AUD 0.00	0.708	USD 7,078	TorFX guarantees to match any competitor's exchange rate. Conditions apply. Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.708	USD 7,078	SendFX guarantees to match any competitor's exchange rate. T&Cs apply. Fee-free transfers in 30+ currencies to over 200 countries.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.708	USD 7,078	Better exchange rates for Finder customers. Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CLP, CNY, COP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, UGX, USD, VND, XCD, ZAR Go to site Read the full review
AUD 250	1 - 2 days	AUD 0.00	0.708	USD 7,078	$0 transfer fees for Finder customers. No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
GBP 3,000	1 day	AUD 0.00	0.708	USD 7,078	Global Reach will match any competitor's exchange rates. Conditions apply. Get no fees for both business and personal transfers when you send your money overseas with Global Reach.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 3,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email, Branch Available currencies AED, AUD, BBD, BGN, BHD, BSD, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, ILS, JPY, KES, KWD, KYD, MUR, MXN, NOK, NZD, PLN, RON, RUB, SDG, SEK, THB, TRY, UGX, USD, XCD, ZAR Go to site Read the full review
AUD 1	1 day	N/A	N/A	N/A	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, EUR, GBP Go to site Read the full review
AUD 1	1 day	AUD 52.00	0.707	USD 7,034	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, CAD, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, SGD, THB, USD, VND, ZAR Go to site Read the full review
AUD 0	Same day	AUD 2.99	0.703	USD 7,026	Special offers like free transfers and better exchange rates available for new customers. Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NGN, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
AUD 1	Same day	AUD 0.00	0.707	USD 7,071	Get fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments, Market orders Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
AUD 200	1 - 2 days	AUD 50.00	0.710	USD 7,065	Exclusive: Use code FINDER10 to receive US$10 off your first transaction. Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
AUD 5	1 - 2 days	EUR 3.00	0.704	USD 7,034	Special offer: Zero fees on your first 10 transfers. Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 5.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR Go to site Read the full review
AUD 1	Same day	AUD 3.99	0.702	USD 7,018	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review

Compare up to 4 providers

The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Bottom line

The pharmaceuticals import/export business is for people who love building relationships in other countries, and success requires an organised mind that can handle logistics. When dealing with medicines and similar goods, a willingness to thoroughly comply with relevant regulations is a must.

If you have these qualities, take the plunge into creating a thriving pharmaceuticals import/export business.

FAQ

Start with the free government services offered by the Office of Drug Control (ODC) and the Therapeutic Goods Administration (TGA). These sources are full of specific pharmaceutical product data and can help you out with licensing and permit information.
For more general information on international trade matters, you can take free interactive online courses through the World Trade Organisation.

Thank you for your feedback!

Rosie Russell

Rosie Russell is a money transfers producer at Finder. She is on a mission to make personal finance easier to understand. Rosie has a Bachelor of Communication (Journalism) and Bachelor of Arts in International Studies from the University of Technology Sydney.

Import/export guide: China What’s the best way to send a lot of money overseas?

More guides on finder

Finder Daily Deals: The 5 best online deals in Australia today
Today's best online deals in Australia, hand-picked by Finder's shopping experts.
Best screen protectors in Australia
Our expert team has analysed hundreds of customer reviews of phone films of all types to determine the best screen protectors in Australia for every budget and purpose.
Best humidifiers in Australia
These are the 6 best humidifiers you can buy in 2020 in Australia.
Best kitchen knives and chef knives in Australia
These are the 5 top kitchen and chef’s knives available in Australia today.
How to start a small business from home
6 tips to start a successful home based business.
Best GPS navigation systems in Australia 2020
These are the best GPS Navigation Systems in Australia for 2020, as determined by thousands of real customer reviews.
Best cask red wine in Australia 2020
We’ve compiled a guide to the best quality red wine casks available in Australia.
Best Google Pixel 5 cases in Australia 2020
Need a case for your Pixel 5 smartphone? Here are the best cases in Australia for a variety of styles and levels of protection.
Best beer in Australia
These are the best beers available in Australia today, across 20 different categories.
Best VR headsets in Australia
We’ve rounded up the best virtual reality headsets in Australia for every budget.

TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

More info

SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

More info

WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

More info

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

More info

Ask an Expert

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Subscribe to the Finder newsletter for the latest money tips and tricks

Notify me via email when there is a reply

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Get the Finder app 🥳 A better score could get you a better deal 🥳

Be money smart and pay a 0% balance transfer rate on your credit card.

Find a better personal loan deal

Find a better home loan

Want $0 monthly fees on your bank account?

Discover the best performing superannuation funds.

Sending money overseas?

Planning to travel soon? Check out one of our travel money location guides

How much will it cost? Calculate your home loan repayments

Popular

Services

Send Money To

Exchange Rates

CBD Guides

Banks

Pharmaceuticals import/export guide for Australia