Premier Su praises biomedicine industry 5.5% y-o-y growth

Premier Su Tseng-chang on March 7 said that biomedicine industry revenue in 2018 reached an outstanding NT$514.1 billion, increasing 5.5% [as compared to the previous year]. The premier urged the relevant ministries to continue their efforts toward helping Taiwan become a world-class biomedicine R&D hub.

The Ministry of Science and Technology (MOST) on March 7 delivered a report on the “Status and Performance of the Biomedicine Industry Innovation Promotion Program” before the Cabinet. Present at the meeting, Premier Su pointed out that biomedicine is one of the 5+2 industries while expressing his thanks to MOST, the Ministry of Health and Welfare, and the Ministry of Economic Affairs for their joint efforts. Last year, overall industry revenue stood at an outstanding NT$514.1 billion, a 5.5-percent increase [from the previous year], while [industry members] also saw considerable growth in terms of marketing approvals both domestically and abroad, the premier said, adding that Taiwan also joined the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use.

Premier Su asked the relevant ministries to continue their efforts because R&D for new drugs and medical devices require legislation and government assistance with growing the market for the local industry. Unveiled last year, the National Biotechnology Research Park is an important milestone in the growth of Taiwan’s biomedicine industry, Premier Su said, asking the relevant ministries to make appropriate use of the park and help connect it with the Hsinchu Biomedicine Park, the minimally invasive surgery [hub] in Central Taiwan, and the medical device [hub] in Southern Taiwan. Premier Su encouraged Cabinet members to help the industry progress even further and establish Taiwan as a world-class biomedicine R&D hub.

【2019-03-07 / Central News Agency】