Taiwan Plans For Biotech Industry
In order to increase development in its biotechnology industry, theTaiwanese Ministry of Economic Affairs has said it plans to set up a NT$1.2 billion ($42 million) pharmaceutical company as early as next year.
The cabinet-level Executive Yuan Development Corp, pharmaceutical companies and investment firms will each put in NT$400 million for a 33.3% stake in the company, according to Lee Kuo-chen, a deputy director of the Ministry's Industrial Development Bureau.
The Ministry will hold a conference for about 40 local investment companies at the end of this month to discuss the plan, it was noted.
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