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| The Economic Roundup is an excerpted translation of the Chinese-language ROC Economic Yearbook published by the Economic Daily News, a sister publication of the Taiwan Economic News. The yearbook is the most comprehensive and authoritative source for understanding the fundamentals of Taiwan's economy, both in the macro and micro aspects. The excerpted translation gives foreign readers a concise view of the island's overall economic picture. It is divided into four parts: general economy, primary industries, secondary industries, and tertiary industries. |
| Secondary Industries > Biotech Industry |
| Biotechnology has won great attention from countries the world over. The U.S., Japan and those advanced countries in Europe have created economic benefits from the development of biotechnology, and such Asia-Pacific countries as South Korea, Singapore, India, New Zealand, Australia and mainland China are also actively promoting the development of biotech products.
According to an estimate made by the CRC (Consulting Resources Corporation), the global biotech market will reach a scale of US$133 billion by 2014, riding on the accumulated achievements in the development of biotech products over the years.
In 2005, a local biotech firm signed an exclusive Antibody-168 authorization pact with the Germany-based Boehringer Ingelheim International GmbH, making it the first agreement of its kind ever signed by local biotech firms and marking a great stride forward in the development of Taiwan's biotech sector.
However, compared with advanced countries in terms of biotech development, Taiwan still leaves much to be desired in such aspects as market development, intellectual rights protection, legislation of rules and regulations, investment system, talent cultivation, fundamental researches, and professional division of labor, among others. |
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