Taiwan Ministry of Economic Affairs inclining generic drug subsidies

Taiwan's generic drugmakers get R&D boost

05/11/2011 Source： Taiwan Today    Taiwan's generic drugmakers are seeing significant improvements in their R&D capabilities under a Ministry of Economic Affairs subsidy program aimed at boosting sector output and sharpening international competitiveness. "This investment is spurring research and development and improving collaboration," said Wu Ming-ji, director-general of the MOEA Department of Industrial Technology, May 10. According to Wu, the MOEA has provided NT$220 million (US$7.67 million) in subsidies to six local drugmakers, equating to around 33 percent of their total R&D investment. The initiative, which began in 2010, aims to lift overall production from NT$30 billion to NT$40 billion per year and assist firms expanding their overseas presence. The NT$1 trillion U.S. market will be a top priority. "Generic drugs are an essential part of the biotechnology sector, which is one of six emerging industries designated by the government for strategic promotion," Wu said. In related news, the MOEA said the government-backed Medical and Pharmaceutical Industry Technology and Development Center has developed Taiwan's first anti-depression drug using traditional herbal medicine. The center has transferred the knowledge to a local firm, which will apply for drug testing clearance in June with the U.S. Food and Drug Administration. (JSM)