The legislature is likely to pass a draft bill in the upcoming session allowing manufacturers of high-risk medical devices to receive tax reductions and government subsidies, Legislative Speaker Wang Jin-pyng (王金平) said yesterday.
“There is a consensus among legislators for such initiative, so we think it should not be a problem,” Wang said on the sidelines of a meeting for the review of biotechnology policies.
The bill would grant these companies tax reduction for their research and development expenditure and spending on personnel training, according to the government-funded Institute for Biotechnology and Medicine Industry, which proposed the bill to the government.
Furthermore, the bill will increase subsidies for local medical device makers to 25 percent of government subsidies for biotechnology industry from 8 percent, Wu Ming-fa (吳明發), chief executive officer of the biotech institute, said by telephone .
The bill would expand the coverage of the Act For The Development Of Biotech And New Pharmaceuticals Industry (生技新藥產業發展條例) to 56 percent of local medical device producers from 7 percent, the Chinese-language Commercial Times said.
The government on Saturday failed to meet the timetable it had set a year ago to include companies making Class 2 medical devices, such as disposable contact lenses, under the act.
The government promised on Aug. 31 last year to add 33 suggestions made by pharmaceutical companies into the act, and it will continue implementing these changes suggested by companies, Minister Without Portfolio Simon Chang (張善政) said at the meeting.
Meanwhile, biomedical group Microbio (中天) chairman Lu Kung-ming (路孔明) yesterday criticized the government for failing to reach an agreement with Chinese government to set up a unified standard for drug companies across the Taiwan Strait.
In response, Premier Jiang Yi-huah (江宜樺) said he had discussed the issue with the Mainland Affairs Council and Ministry of Health and Welfare, and would conduct further talks with the Chinese government.
Local vaccine maker Adimmune Corp (國光生技) chairman Steve Chan (詹啟賢) said a meeting between Taiwanese and Chinese companies and officials is to take place on Nov. 8 and Nov. 9 in China.
“The talk is likely to facilitate establishing a standard agreed by both sides concerning new drug applications, but it will still require both governments’ approvals for such a deal to be realized,” Chan said.
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
Protectionism: US trade chief Katherine Tai said the hikes would help to counter unfair trade practices from China, while boosting domestic clean energy investments US Trade Representative Katherine Tai (戴琪) defended stiff tariff hikes against countries such as China, saying that paired with investment, they were a “legitimate and constructive” tool for reinvigorating domestic industries. Tai’s comments come a week after sharp tariff increases on Chinese electric vehicles (EVs), EV batteries and solar cells took effect — with levies down the line on other products also recently finalized. The latest moves targeting US$18 billion in Chinese goods come weeks before next month’s US presidential election, with Democrats and Republicans pushing a hard line on China as competition between Washington and Beijing intensifies. In an interview on Thursday
RSS