KRW
1 Trillion for Innovative New Drug Development, Budget Surges for Biohealth
(Dailypharm, Sep 4 2019)
On
September 4, MOHW convened the 1st meeting for Biohealth Industry
Innovation Strategy Committee to review ‘Biohealth Industry Innovation
Strategy’ execution progress and to talk about prospective plan. MOHW has
increased R&D budget for 2020 by 16% than this year’s KRW 990 billion and
allocated KRW 1.15 trillion. And at the moment, a preliminary feasibility
research is ongoing to test KRW 3.50 trillion worth State-run new drug
development program effective from 2021 to 2030. MOHW is also planning to
provide tax deduction benefit for incrementally modified bio-drugs. MOHW has
submitted to the NA plenary session a revised version of tax legislation for
the year.
