Ministries working together to promote domestic biotech sector

  • Date: 2016-11-10
  • Source: Department of Information Services, Executive Yuan

Premier  Lin  Chuan  said  today  that  biomedicine  is  a  key  element  in  President  Tsai  Ing-wen’s  “five  plus  two”  innovative  industries  policy,  and  that  the  administration’s  strategic  initiatives  will  require  extensive  cross-ministry  cooperation.  

Following  a  briefing  by  the  Ministry  of  Science  and  Technology  (MOST)  about  plans  to  promote  biomedical  industry  innovation  at  today’s  cabinet  meeting,  the  premier  said  that  amendments  to  relevant  laws  such  as  the  Fundamental  Science  and  Technology  Act,  the  Act  for  the  Development  of  Biotech  and  New  Pharmaceuticals  Industry  and  the  Pharmaceutical  Affairs  Act,  as  well  as  a  draft  bill  governing  the  establishment  of  a  national  drug  evaluation  center  have  been  sent  to  the  Legislature  for  priority  review.  He  also  requested  that  the  competent  authorities  communicate  and  coordinate  with  the  legislative  caucuses  from  the  various  political  parties  to  fast-track  deliberations  on  the  above  initiatives  supporting  Taiwan’s  biomedical  sector.  

The  MOST  proposed  four  action  plans  to  facilitate  biomedical  development:  

•  Enhance  the  domestic  ecosystem:  Focus  on  talent,  capital,  intellectual  property,  laws  and  regulations,  resources  and  topic  selection  to  enhance  the  capacity  for  innovation.  
•  Integrate  innovative  business  clusters:  Link  clusters  of  innovative  businesses  from  north  to  south  to  form  a  biotech  corridor.  
•  Connect  global  market  resources:  Make  good  use  of  Taiwan’s  specialties,  and  promote  mergers  and  acquisitions  as  well  as  strategic  alliances;  employ  buyout  funds  and  syndicated  loans  to  purchase  high-potential  small-  and  medium-sized  international  pharmaceutical  companies,  medical  supply  companies,  distributors  and  service  providers  to  tap  into  the  global  market;  use  modern  mosquito-borne  disease  control  strategies  as  the  foundation  of  diplomatic  cooperation,  and  promote  the  development  of  Taiwan’s  public  health  care  and  medical  services  in  Southeast  Asian  countries.  
•  Promote  specialized  key  industries:  Promote  niche  precision  medical  services,  foster  clusters  of  world-class  specialty  clinics,  and  develop  industries  in  the  health  and  well-being  sectors.