Investment in new drug development for the first six months of the year amounted to NT$2.72 billion, 18 times higher than the year-earlier level, according to a report released Friday by the Industry and Technology Intelligence Services (ITIS).
The ITIS is a Web site operated by the Ministry of Economic Affairs to provide timely business information and analysis for the reference of the public.
The total investment amount of the biotechnology industry was registered at NT$10.7 billion, of which NT$5.33 billion, or 49.8 percent, went into the pharmaceutical manufacturing sector, including new drug development, according to the report.
Investment in the agricultural biotechnology sector for the same period registered NT$2.5 billion, accounting for 23.4 percent of the total investment in the biotechnology industry and representing an increase of 3.8 times over the year-earlier level, the report said.
Investment in general biotechnology and the medical-related industry for the first six months was NT$11.89 billion, slightly higher than NT$11.87 billion of the same period of last year
The report also noted that the export value of biotechnology products in six major categories -- plant seedlings, vaccines, experiment reagents, biomedical materials, antibodies and food biotechnology -- for the first six months was estimated at NT$1.74 billion, up 16.4 percent from the year-earlier level, while import value was estimated to reach NT$3.1 billion, up 6.8 percent.