Reported by Lu Xui-Hui from Taipei
After the scandal of OBI Pharma, the government in Taiwan is now reviewing the regulations governing the investment environment for the biotech industry. The Executive Yuan is going to put forward a new plan in 6 months. The announcement will include incentives to encourage the biopharmaceutical industry to conduct R&D projects in Taiwan.
The world’s biggest biotech convention kicked off on the 6th in San Francisco. Prof. Wu Tsung-Tsong, an Executive Yuan Minister without Portfolio, led the Taiwan delegation to attend this event with a view to promoting the “Asia-Pacific BioMedicine R&D Center” and to forging links with international companies.
The delegation is going to introduce the clinical trial alliance in Taiwan to the world. The alliance consists of 132 hospitals and medical centers, involving in the R&D of drugs and treatments for 14 important diseases. The delegation will showcase Taiwan’s capacity of clinical trials offered by a number of biotech clusters in Taiwan. The delegation hopes to attract international biopharmaceutical companies to set up bases in Taiwan.
Amgen, a US-based biotech company, recently announced to set up a subsidiary in Taiwan. The government will keep persuading the company to expand their activities in Taiwan, such as establishing an R&D center.
The Executive Yuan has begun improving the investment environment for the biotech industry, adjusting the regulatory system and providing trainings, hoping to renew the industry’s momentum. According to insiders, the government is to provide incentives to encourage investment in the biotech industry, for example employee stock option plans, 5-year tax credits for early shareholders' equity in startups, expanded tax credits for developers of medical devices, etc.
Also, new incentives will be formulated for new drug developers to secure a better chance of product launch in Taiwan. The MOHW is now studying measures for encouraging innovative new drugs to have their first worldwide launch in Taiwan.
【2016-06-06/ Commercial Times】