In the News

Panel suggests government aid biotech sector

• Publication Date：12/25/2009
• Source： United Daily News

A presidential advisory group recommended that the government should take steps to help the nation’s biotech sector.

The group, comprised of government officials and representatives of various sectors of society, made its recommendations during a Dec. 24 meeting chaired by Vice President Vincent Siew.

The central government should formulate a cross-ministerial plan to support Taiwan’s biotechnology sector, the group suggested. Specific recommendations include founding a marketing company that would help promote the nation’s biotech products worldwide by making them better known on the international level.

Since investment in the biotech sector is often risky, the group also suggested that the government should shoulder some of the investment risks currently borne by biotech companies.

The meeting also discussed the Taiwan Food and Drug Administration, scheduled to begin operations on Jan. 1, 2010.

As things are now, the TFDA is faced with a shortage of both funding and personnel. A Department of Health official suggested that the government increase funding for the newly established organization so that it can have the wherewithal to recruit talented individuals.

One of the missions of the TFDA will be to implement the government’s plan of promoting cooperation with neighboring countries in the development of clinical trials for new medicines, it was noted during the meeting.

The DOH also delivered a report on the planning and prospective of the TFDA to the Executive Yuan Dec. 24.

Premier Wu Den-yih demanded that the TFDA set up a risk-assessment mechanism for new drugs that matches international standards.

Along with the Ministry of Economic Affairs, the National Science Council and the Council for Economic Planning and Development, the TFDA should also help in the development of the biotech sector, Wu said. (TYH-HZW)