Focus Taiwan
Date: 2016/07/24
By: Huang Chiao-wen and Romulo Huang

Taipei, July 24 (CNA) The government has set a production target for the nation’s biotechnology industry at NT$500 billion (US$15.6 billion) for 2020 with several flagship enterprises of the sector getting annual revenues of more than NT$10 billion, an official of the Ministry of Economic Affairs (MOEA) said Sunday.

The MOEA has elaborated six main strategies for future development of the biotechnology industry in the nation, including the establishment of chains of related enterprises for new drug research and development, the promotion of internationalization of local pharmaceutical manufacturers that obtain certificates of good manufacturing practice PIC/S (pharmaceutical inspection cooperation scheme), the official of the Industry Development Bureau under the MOEA said.

The other strategies are establishing clusters of manufacturing industries of high-level medical equipments and materials, promoting smart systems of niche medical materials, developing health and welfare industries and amending outdated rules and regulations on new drug development, he added.     [FULL  STORY]