Few local companies would contemplate a public listing unless they are profitable. Taiwan investors, like those elsewhere in the region, are notoriously impatient. That's why Chen Jen, manager of drug maker Genelabs Biotechnology, wouldn't turn to domestic equity markets. He is looking for a major foreign partner to co-develop future medicines. Stan Lin, whose General Biologicals Corp . makes diagnostic kits, has a sunnier outlook.
Drug companies are naturals to expand into biotech.
There's an obvious synergy. Japan pharma giant, Takeda Chemical Industries , is one that is betting on biotech, as is Daiichi Pharmaceutical. Not everyone shares the enthusiasm. Perhaps with some cause. Part of the financing problem, says MJSS's Shahi, is that many venture capitalists in the region don't have the technical know-how to evaluate a venture.