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Biopharmaceutical innovation and industrial developments in South Korea, Singapore and Taiwan

Hsieh, Chee-Ruey and Lofgren, Hans 2009, Biopharmaceutical innovation and industrial developments in South Korea, Singapore and Taiwan, Australian health review, vol. 33, no. 2, pp. 245-257.

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Title Biopharmaceutical innovation and industrial developments in South Korea, Singapore and Taiwan
Author(s) Hsieh, Chee-Ruey
Lofgren, Hans
Journal name Australian health review
Volume number 33
Issue number 2
Start page 245
End page 257
Total pages 13
Publisher Australian Medical Publishing Company
Place of publication Sydney, N.S.W
Publication date 2009-05
ISSN 0156-5788
Keyword(s) biotechnology
South Korea
technology policy
Summary South Korea, Singapore and Taiwan are well known as export-oriented developmental states which for decades employed industrial policy to target particular industries for government support. In the past fifteen years, these three countries all identified the biopharmaceutical industry as a strategic sector. This article explores, through economic analysis, the rationale for this decision and the strategies chosen for linking into the global bio-economy with the objective of catching up in biopharmaceuticals. The paper identifies three comparative advantages enjoyed by these countries in the biopharma sector: (1) public investments in basic research; (2) private investments in phase 1 clinical trials; and (3) a potentially significant contract research industry managing latter-stage clinical trials. Governments employ a range of industrial policies, consistent with these comparative advantages, to promote the biopharmaceutical industry, including public investment in biomedical hubs, research funding and research and development (R&D) tax credits. We argue that the most important feature of the biopharmaceutical industry in these countries is the dominant role of the public sector. That these countries have made progress in innovative capabilities is illustrated by input measures such as R&D expenditure as share of gross domestic product, number of patents granted and clinical trials, and volume of foreign direct investment. In contrast, output indicators such as approval of new chemical entities suggest that the process of catching up has only just commenced. Pharmaceutical innovation is at the stage of mainly generating inputs to integrated processes controlled by the globally incumbent firms.
Language eng
Field of Research 160511 Research, Science and Technology Policy
160606 Government and Politics of Asia and the Pacific
Socio Economic Objective 940299 Government and Politics not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
HERDC collection year 2009
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Document type: Journal Article
Collection: School of International and Political Studies
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Citation counts: TR Web of Science Citation Count  Cited 6 times in TR Web of Science
Scopus Citation Count Cited 7 times in Scopus
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Created: Wed, 23 Sep 2009, 17:32:35 EST by Hans Lofgren

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