Singapore: Pharma companies from China and Taiwan have recently convened a forum, co-organized by the Taiwan-based Institute for Biotechnology and Medicine Industry (IBMI) and the China Pharmaceutical Innovation and Research Development Association, seeking to strengthen ties between the two countries and boost new drug development.

Mr Chen Weijao, chairman of the IBMI, said, "While China is a huge potential market for drug developers, Taiwan has the expertise and has been conducting many clinical trials and novel drug research. The collaboration of the two countries will help in grabbing a larger share of the market."

Mr Weijao added that Taiwan and China should seek new collaborative models to attain substantial outcomes. According to Mr Song Ruilin, executive chairman of China Pharmaceutical Innovation and Research Development Association, the forum will provide a platform for pharma companies to interact and collaborate.