Reported by Du Hui-Rong from Taipei

The 2014 Bio Business Asia (BBA) was held in Taipei on July 24.  Biotechnology experts predict that cross-industry cooperation will become a dominant trend due to the easy access to information through the Internet and the emergence of pharmaceutical economics.  There will be a wave of new joint-venture alliance, for example healthcare providers ally with internet service providers and drug companies ally with manufacturers of diagnostic reagents.  A new business model is looming on the horizon.  

Mr David Flores, the CEO of Bio Century, reckoned that the biotechnology industry will still be prosperous as the population is ageing and there are unmet medical needs.  To enter the international market, the bio industry in Taiwan needs a complete overhaul.  Every stakeholder, the government, the patient and the health professionals, should be involved.  

Mr Ross Horsburgh, the senior Vice CEO of Quintiles, expressed that service models will be more and more diversified.  For example, Quintiles has expanded its services from conducting clinical trials for clients to providing marketing services, such as product positioning, regulatory and market information collecting, etc. 

Mr Fang Wei-Kai of DePuy Synthes was optimistic about the bio industry’s future.  He reckoned that there are many opportunities in the alliance between medical and IT industries. 

Ms Fong Yu-Lien, Vice CEO of the Abbott Molecular Division, expressed that the US FDA grants fast track designation to drugs with diagnostic reagent kits.  It provides an opportunity and may push the biotech industry to another success. 

【2014-07-25/ Commercial Times】