The forum, co-organized by the Taiwan-based Institute for Biotechnology and Medicine Industry (IBMI) and China Pharmaceutical Innovation and Research Development Association, has set up a platform for pharmaceutical enterprises across the strait to deepen cooperation in new drug development and grab a larger share of the global market.

Chen Weijao, chairman of the IBMI, said Taiwan has many talents conducting clinical studies and novel drug research and development, accompanied by rigid regulation of pharmaceutical standards, while the Chinese mainland has a huge potential drug market.

Drug producers in Taiwan and the mainland are complementary for potential partnerships in developing innovative drugs and should seek new models of industrial cooperation to attain win-win outcomes, Chen added.

According to Song Ruilin, executive chairman of China Pharmaceutical Innovation and Research Development Association, 11 drug companies from the mainland will hold nearly 40 face-to-face talks with 15 pharmaceutical businesses from the island during the forum.