The government will explore all possible avenues to give Taiwan's medical biotechnology industry favorable conditions for entry into the global marketplace, Premier Sean Chen said today in a press conference marking the completion of a comprehensive examination of biomedical policy.
The premier attended the press conference at the invitation of the co-hosts, the Institute for Biotechnology and Medicine Industry (IBMI) and the Research Center for Biotechnology and Medicine Policy (RBMP). He instructed an Executive Yuan team to attend as well and to respond to the study's recommendations. He also took the opportunity to thank long-time contributors to the field.
According to the IBMI and RBMP, a total of 1,500 experts in biotechnology and medicine participated in the study. Together, they produced 33 recommendations to the government regarding the environmental, resource, organizational and regulatory aspects of relevant policy.
The proposals conformed to the observation that because Taiwan's market is small, the domestic industry must expand into the global arena, the premier said. He stated that the Executive Yuan has already reviewed the feasibility of the study's recommendations, considering both policies that could be implemented now and those that would first require deregulation, and it will also proactively seek other measures to facilitate medical biotech's growth and give Taiwanese researchers and businesses good conditions to enter the world market in the future.
Taiwanese biomedical businesses employ differing terms such as "biomedicine," "biotechnology" and "biopharmaceuticals" in light of their own developmental advantages, Chen said. He asserted there is plentiful room for growth in the use of biotechnology in medical treatment. He also noted that the government has amended the Act for the Development of Biotech and New Pharmaceuticals Industry, including stipulations pertaining to new drugs and high-risk medical devices, to bring the law in line with industry trends.
"The sky's the limit for biotech," said the premier, expressing the government's expectation that the industry has a bright future. He said the government would also ask representatives of other fields for recommendations on how to help the industry develop and enter overseas markets.
The IBMI and RBMP said 11 of the study's recommendations, including encouraging new drug R&D in Taiwan and lowering barriers for receiving grants through the Act for the Development of Biotech and New Pharmaceuticals Industry, are expected to be implemented immediately. Another 12, including proposals for new policies on pharmaceuticals and pharmaceutical prices as well as budget allocation readjustment, will be implemented within one year. These measures are considered key to the development and global expansion of Taiwan's biomedical industry.