Biotechnology Innovation Organization (BIO) President James Greenwood said in an address at the 2019 BIO Asia Taiwan forum that while Taiwan’s “5+2 industrial innovation program” and the recently passed patent linkage system bring many advantages to Taiwan’s biotechnology sector, several challenges remain, including issues surrounding biosimilar drugs, national health insurance pricing and corporate protectionism.

This year’s BIO-Asia Taiwan event has been elevated to a pan-Asia scale for the first time in the past 16 years. The event attracted more than 1,500 experts from across the globe and held 45 forum sessions, as well as gathering 1,700 booths and 600 exhibitors to achieve a record high.

During an opening ceremony, Bio President James Greenwood said that BIO has organized 14 exhibitions in the past focusing on biotechnology, pharmaceutical manufacturing, genetics and healthcare. “In the future, biotechnology would help solve the problems of many diseases and address unmet medical needs, and it is hoped that efforts by BIO would help biotechnology transcend borders,” said President Greenwood, adding that he has seen the world-leading capabilities of Taiwan’s biotechnology, semiconductor and national health insurance data bases. President Greenwood hopes that biotechnology would continue to advance and help bring new therapies to the world and bring a positive influence across all Asian businesses through collaborative efforts between BIO and Taiwan’s industries.

President Greenwood said that while biotechnology industries across the globe are undergoing innovative and revolutionary changes, Taiwan’s participation is helped by several advantages, such as President Tsai’s 5+2 industrial innovation program, as well as the recently passed patent linkage system that would bring improved intellectual property protection for biologic drugs.

However, Taiwan still face several challenges, including the immense influence of the biosimilar drug makers, who are appealing for as little patent protection as possible. In the event that the government is unable to strike a balance in patent protection, Taiwan’s progress in fostering innovations and attracting investments would be affected. Secondly, the government’s agenda to lower national health insurance spending could also lead to negative impacts, including reduced job opportunities and R&D budgets. Lastly, an environment of excessive corporate protectionism has made companies efforts in transitioning and innovating more difficult. The best way forward would be to have domestic and foreign companies work together, President Greenwood said.

【2019-07-24 / CNA】