Discover Innovative Opportunities Lead to Advancements in the Health Industry
The purpose of this volume of BioTaiwan Highlights is to systematically introduce the developmental trend and niche of Taiwan's biotechnology industry and highlight Taiwan's benchmark companies with R&D capabilities and operational excellence. Using key indicators to assess R&D and operational capabilities, this volume provides a professional and objective viewpoint for 60 carefully evaluated R&D stage and publicly traded biotech companies in Taiwan.
In this volume, we bring together an advisory committee of 31 experts from industry, academia, and government to provide professional perspectives, along with diverse and objective viewpoints to establish the benchmark for R&D and operational efforts.
For the R&D stage companies, the evaluation was based on each firm's performance in the following categories: 1. business operation, 2. R&D team/employees, 3. R&D spending, growth, and R&D/sales ratio, 4. R&D pipeline & progress, 5. evaluation of market potential, 6. international competitor analysis, 7. core technology, 8. patent portfolio of major products, 9. domestic/international collaboration & progress, 10. domestic/international business plan & development strategy. Companies selected from the preliminary evaluation then underwent financial stability and risk assessments. Finally, senior executives from the companies that passed all of the above evaluations were interviewed by the advisory committee members. Through in-depth and rigorous discussions during the on-site interviews, 40 pharmaceutical, medical device, precision medicine, and bio-agricultural companies are recommended for inclusion in this volume as the R&D benchmarks.
For publicly listed companies in the biotech industry, we applied a percentile conversion method to score each firm on 5 main categories with a total of 15 indicators. The categories and indicators include: 1. scale of operation (30%; net revenue, net income after tax), 2. profitability (30%; gross profit ratio, net income ratio, return on equity (ROE), return on assets (ROA), earning per share (EPS), net income per capita), 3. growth capability (10%; revenue growth, net income growth), 4. R&D intensity (10%; R&D expenditures, R&D/sales ratio, R&D growth), 5. international trading (20%; export sales, percentage of export sales). Lastly, financial stability and risk assessments were conducted before the advisory committee finalized the 20 firms as the operating benchmarks.
These R&D stage benchmark companies include 16 pharmaceutical companies, 11 medical device companies, 5 precision medicine companies, and 8 bio-agricultural companies. The 16 pharmaceutical companies have a total of 78 pipelines (biologics, biosimilars, anti-cancer drugs, vaccines…etc.), 14 drugs in phase III clinical trials, 10 NDA, and 3 marketed drugs. The 11 medical device companies are working on innovative solutions for unmet medical needs with the developments of diagnostic devices, multiplexing platforms, smart safety needles, artificial cornea made from fish scales, artificial retinal prosthesis, and more. The 5 companies working on precision medicine can provide a wide range of genetic testing and screening services such as circulating tumor cell (CTC) screening, non-invasive prenatal test (NIPT), cancer genetic testing…etc. Finally, the 8 bio-agricultural companies include the world's leader in genetically modified fluorescent fish, Asia's leading orchid expert, Asia's top carotenoid manufacturer, on-site fermentation system, and products for allergen and disease detection. These achievements demonstrate the R&D capabilities of Taiwan's top-notch biotech companies and provide reference to forge strategic alliances in research, development, and marketing.
Connecting and Partnering with Taiwan
Taiwan's diverse and innovative R&D efforts, along with the operational and R&D strengths of its companies, and the government's commitment to biotechnology development make this the right time to strengthen its international connection. Thus, we present this volume to provide an overview of the biotechnology and pharmaceutical industry in Taiwan and its international growth opportunities and advantages.
Taiwan's Strengths from Biotechnology Innovations to Commercialization
NVF's decision to establish its world's first mentoring program in Taiwan shows that Taiwan's biotech industry has been recognized by global renowned professional venture capital firms. From a VC's perspective, the biomedical and device industry in Taiwan is of great potential especially in combination with its clinical trial capabilities. To further drive the growth of Taiwan's biotech industry, Taiwan may leverage local expertise across existing industries such as, IT.
Looking New Trends – Digital Health
With almost all of the ICT and electronic corporates in Taiwan diversifying into the biomedical sector, Taiwan's medical industry is anticipated to be quickly transformed by this revolutionary wave of digital health to a new era of intelligent healthcare. By leveraging and integrating Taiwan's expertise in medical technologies and healthcare system with ICT and electronics, the new biomedical industry will soon emerge as one of the key drivers to boost Taiwan's economy.