On December 30, 2021, the Legislative Yuan amended and promulgated the draft amendment to the "Act for the Development of Biotechnology and New Drug Industries", and amended the name of the bill to "Act for the Development of Biotechnology and Pharmaceutical Industries".
The "Act for the Development of Biotechnology and New Drug Industry" was promulgated and implemented on July 4, 2007. Through tax concessions and other measures, it injects innovation energy into Taiwan biotechnology and pharmaceutical industry, and leads biotechnology and pharmaceutical industry toward high value-added biotechnology and pharmaceutical products. Developing so far, a number of products have been listed internationally, driving Taiwan new drugs and high-risk medical devices to enter the international market.
Haven facing the development trend of the global biotechnology and pharmaceutical industry, from disease treatment to disease prevention and prediction, as well as cross-domain cooperation with digital technology, in order to promote the development of Taiwan biotechnology and pharmaceutical industry, and combine the advantages of Taiwan medical technology and information and communication technology. The amendments to these regulations amend the deductions for research and development, capital, machinery and equipment, etc., to promote the development of advanced medical and high-tech threshold products, encourage cross-domain cooperation between the biotechnology industry and the information and communication industry, and increase manufacturing capacity, thereby expanding Taiwan biotechnology industry. The scale of the pharmaceutical industry, and cultivate emerging technologies to protect the country and mountains.