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題名 生技醫藥公司之投資評估研究-生物倫理與社會責任之價值
作者 陳宜超
Chen,Yi-Chau
貢獻者 劉江彬
Liu,Paul C. B.
陳宜超
Chen,Yi-Chau
關鍵詞 生技醫藥
生技藥品
檢體
人體臨床試驗
投資評估
生物倫理
社會責任
生技品牌
Biomedicine
Biopharmaceutical
Specimen
Human clinical trials
Investment evaluation
Bioethic
Social responsibilities
Biobrands
日期 2004
上傳時間 18-Sep-2009 09:19:48 (UTC+8)
摘要 繼人體基因圖譜於2000年解碼後,基因解讀及研究初期均在競爭解讀基因序列(Gene sequences),然而了解基因序列是一件事,如何從序列中來了解基因功能所賦予之生理生化意義,比如每段基因所產生之蛋白質產物、及蛋白質與細胞之間的相互關係等資訊,進而應用於藥物標的之尋找,才是未來生物醫學發展之主要方向。同理,藉由基因功能學(Functional Genomics)領域來研究新發現之基因的功能、基因表現、與蛋白質產物,進而辨識有用的藥物標的(Drug target)及尋找新的疾病治療方法,才是基因解讀後最主要之生技醫療市場。全球生物科技之應用中以醫療用的生技產品所帶來的產值最為可觀,佔總體生技產業約七成以上之產值,其中又以重組蛋白藥品、單株抗體、疫苗及檢驗試劑之研發為主要重心,其中行政院更在“加強生物技術產業推動方案”裡,特別將蛋白藥物、抗癌藥物開發及檢驗試劑等領域列為重點推動項目,國內外許多生物科技公司研發專長及主軸亦座落於全球最熱門的生技製藥發展脈絡上。目前由於許多癌症、代謝失常疾病、遺傳性疾病及自體免疫疾病等,臨床之治療藥物仍舊是付之闕如或是供不應求,其中特別是各種癌症以及自體免疫疾病,如類風濕性關節炎、多發性硬化症、牛皮癬及過敏等,都是生技醫藥開發非常重要之疾病研究領域。現今臨床上所常用的藥物,普遍有特異性不佳、副作用大的缺點,因此國內外許多生物科技公司正戮力於針對上述疾病類別找尋合適之生技藥物或是小分子藥物,已達到標的治療(Target therapy)為目的;然而在生技醫藥公司草創初期,大都以技術掛帥,且由於藥品開發時間冗長,因此鮮少有生技醫藥公司能於設立初期10年內有產品上市,因此導致初期營運風險居高不下,令投資者裹足不前,所以如何評估具有成長潛力之生技醫藥公司頗為困難,因此本論文擬從生技藥品著手,除了傳統從技術面、產品面、市場面、競爭者、人力資源、策略經營等構面著手分析成長中之生技醫藥公司外,由於生技醫藥產業之特殊屬性,所以更特別注重產業成長時針對生物倫理面的考量,以做為生技醫藥公司具成長潛力之指標之一。希望透過多元的評估分析,能夠歸納出生技醫藥公司的成功要素,並藉此分析能夠有系統的篩選出具成長性、具社會責任之生技醫藥公司,才能擘畫生技醫藥公司維持長期競爭力、獲得永續發展的遠景,並藉此做為投資者長期投資評估之參考依據。
The completion of the human genome project is regarded as a turning point in biotechnology and medicine. This project is expected to produce sequence of DNA representing the functional blueprint and evolutionary history of the human species. As we entered the postgenomic era, what we faced is the explosion of new information, which is leading to dramatic changes in the way we are able to study and manipulation of life. At the first few years, many groups were competing in sequence decoding. However, the findings of the functions of genes and the interactions of different gene products are the main issues helping us exploit the new biotechnology markets. Through the research of functional genomics to explore the function, expression, and protein products of novel genes is helpful in identifying new drug targets and developing therapeutic strategies in treating various diseases. This is what we emphasized in biotech market after entering the postgenomic era. The most valuable branch of biotechnology industry is the medical products in global biotechnology market. The medical products take up to 70% of total sales in biotechnology markets. Among the medical biotechnology field, recombinant protein drugs, monoclonal antibodies, vaccines, and detection kits have been focused in pharmaceutical R&D investment. Executive yuan of the Republic of China decided to emphasized in protein drugs, anti-cancer drug development and detection kits in their “ The promotion plan of improving biotechnology industry”.

Currently, the drugs against cancers, metabolic diseases, inherited diseases, and autoimmune diseases are still unavailable. Especially the drugs for various cancers, and autoimmune diseases including rheumatoid arthritis, multiple sclerosis, psoriasis, and allergy are under intensive investment in global biotechnology industry. This is because the drugs used today have the deficiencies including low specificity and adverse side effects. Thus, target therapy using monoclonal antibodies and small molecular drugs are the goals for worldwide biotech companies. However, the development in research has been considered as the most important thing in the starting stage of newly founded biotech companies and the long time needed for putting a new drug to market make very few biotech companies have salable products. Thus, the newly biotechnology company has been considered has high risk in the beginning stage. This makes investors to hesitate in putting their money in this field. To evaluate the potential of a new biotechnology companies is difficult since the complex of this industry. This study will try evaluating a newly founded biotechnology company not only through technology, product, market, competitors, human resources, strategies, but also from the consideration in bioethics. Hopefully, through the evaluation of multiple markers, we can conclude the essential factors for a successful company and screen out the company with high growing potential via this study. Finally, this study might serve as a reference for investors in evaluating a promising company for long-term investment.
參考文獻 中文資料:
1. 王維敏 等 (民 91年)。生技投資的億萬商機。時報出版社。
2. 朱兆文 (民 92年)。生技藥品及其學名藥之發展趨勢。生物技術開發中心。
3. 江晃榮 (民 94年)。2004年生物技術產業發展動向與研發趨勢(二) 275。科技報導,第20版。
4. 江晃榮 (民 94年)。2004年生物技術產業發展動向與研發趨勢(三) 280。科技報導,第14版。
5. 吉娜. 柯拉塔 (民 87年)。基因複製:從複製羊桃莉看人類未來。遠流出版社。
6. 何懷宏 (民 91年)。倫理學是什麼。揚智文化事業股份有限公司。
7. 林子儀、蔡明誠 (民 92年)。基因技術挑戰與法律回應。學林文化事業有限公司。
8. 法蘭西斯.福山 (民 91年)。後人類未來:基因工程的人性浩劫。時報文化出版公司。
9. 法蘭西斯.西蒙 等 (民 94年)。打造全球生技品牌。天下遠見出版公司。
10. 黃俊英、劉江彬 (民 87年)。智慧財產的法律與管理。華泰文化事業有限公司。
11. 陳麗敏、羅淑慧 (民 93年)。生技製藥公司的策略聯盟佈局。生物技術開發中心。
12. 陳宜中 (民 91年)。胚胎幹細胞研究的倫理爭議。354期,科學發展, p 4-11。
13. 郭聰田 (民 94年)。企業永續經營三部曲 。282期,科技報導,p12-17。
14. 馮震宇 (民 88年)。實用科技智財法全書。展智文化公司。
15. 艾德蒙. 格雷 等 (民 88年)。管理學-競爭優勢。桂冠圖書公司。
16. 楊秀儀 (民 94年)。論我國法上「告知後同意」法則之請求權基礎。「醫學倫理與法律」科技整合學術研討會/台大法律學院科際整合法律學研究所主辦。
17. 蔡甫昌等 (民 91年)。醫學研究的倫理、法律與實務-臨床試驗受試者保護 研討會。台灣醫學會/台大醫學院主辦。
18. 蔡甫昌、李明濱 (民 91年)。當代生命倫理學。醫學教育雜誌。
19. 編輯群 (民 90年)。人體金礦最值錢?小心,有人盜用你的DNA。 BIOERA p 34-40。
20. 編輯群 (民 94年)。台灣生技產業名錄 2004。生物技術開發中心。
21. 編輯群 (民 89-94年)。生技醫藥速報半月刊 2000-2005。生物技術開發中心。
22. 劉哲維、王維敏 (民 92年)。台灣製藥產業現況及發展趨勢。寶來證券研發專刊。
23. 熊蕾 (民 91年)。新殖民主義掠奪備忘錄。http://southernmongolia.hypermart.net/forum/messages/41927.html。
24. 顏厥安 (民 93年) 。 鼠肝與蟲臂之管制-法理學與生命倫理論文集。元照出版社。
25. 蘿莉. 安德魯斯 等 (民 90年)。出賣愛因斯坦:人體組織販賣市場。時報文化出版社。
英文資料:
1. Check E. Ethics council calls for probe into assisted reproduction. 2004. Nature 428, p590.
2. Crespi, R.S. Patenting and Ethics: a dubious connection. 2003. Pharmaliceensing. http://container. pharmaliceensing.com/features/disp.
3. Demaine L. J. and Fellmeth A. X. Natural substances and patentable inventions. 2003. Science 300, p1375-1376.
4. Dennis Carina. Synthetic sex cells. 2003. Nature 424, p364-366.
5. Dhanda, R. K. 2003, Time for bioethics and business to start talking. Nature 421, p573.
6. Editors. Antibody Therapeutics. D&MD report 2001.
7. Editors. Therapeutic Proteins: strategic market analysis and forecasts to 2010. 2002. Datamonitor.
8. Editors. The editors’ and reporters’ guide to Biotechnology. 2004-2005, Biotechnology Industry Organization.
9. Editors. BioCentury (Daily news and weekly reports). 2000-2005. http://www.biocentury.com/flash/flash.cfm
10. Editors. The World Market for Therapeutic Proteins 2005. 2005. Visiongain.
11. Fairchild, A.L. and Bayer, R. Ethics and the conduct of public health surveillance. 2004. Science 303, p631-632.
12. George, J. A. et al. Politics, morals and embryos.2004. Nature 431, p19-20.
13. Hoffman, E. European Pharmecuticals. 2003. Bear Sterrns & Co. Inc.
14. Karpowicz, Philip et al. It is ethical to transplant human stem cells into nonhuman embryos. 2004. Nature Medicine. 10, p331-335.
15. Liu, R. M. et al. Psoriasis market outlook for 2003. 2003. Prudential Financial.
16. Lo Bernard et al. Consent from donors for embryo and stem cell research. 2003. Science 301, p921.
17. McLaren Anne. Ethical and social consideration of stem cell research. 2001. Nature 414, p129-131.
18. Orive, G. et al. Controversies over stem cell research. 2003. Trends in Biotechnology. 21, 109-112.
19. Powell Kendall. Seeds of doubt. 2003. Nature 422, p656-658.
20. Rammensee, H. G. Protein surgery. 2004. Nature 427, p203-204.
21. Rathmell, J. and Thompson, C. B. The central effectors of cell death in the immune system. 1999. Annu. Rev. Immunol. 17: 781-828.
22. Sutton Gail. Are Biofirm courting the wrong investors? 2003. Genetic Engineering News 23, 9-57.
23. Sulston J. and Ferry G. The common thread: a story of science, politics, ethics and the human genome. 2002. Joseph Henry Press.
24. Walsh, Gary. Biopharmaceutical benchmarks-2003. 2003. Nature Biotechnology. 21, 865-870.
25. Reichhardt, T. Studies of faith. 2004. Nature 432, p667-669.
描述 碩士
國立政治大學
科技管理研究所
90359025
93
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0090359025
資料類型 thesis
dc.contributor.advisor 劉江彬zh_TW
dc.contributor.advisor Liu,Paul C. B.en_US
dc.contributor.author (Authors) 陳宜超zh_TW
dc.contributor.author (Authors) Chen,Yi-Chauen_US
dc.creator (作者) 陳宜超zh_TW
dc.creator (作者) Chen,Yi-Chauen_US
dc.date (日期) 2004en_US
dc.date.accessioned 18-Sep-2009 09:19:48 (UTC+8)-
dc.date.available 18-Sep-2009 09:19:48 (UTC+8)-
dc.date.issued (上傳時間) 18-Sep-2009 09:19:48 (UTC+8)-
dc.identifier (Other Identifiers) G0090359025en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/34305-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 科技管理研究所zh_TW
dc.description (描述) 90359025zh_TW
dc.description (描述) 93zh_TW
dc.description.abstract (摘要) 繼人體基因圖譜於2000年解碼後,基因解讀及研究初期均在競爭解讀基因序列(Gene sequences),然而了解基因序列是一件事,如何從序列中來了解基因功能所賦予之生理生化意義,比如每段基因所產生之蛋白質產物、及蛋白質與細胞之間的相互關係等資訊,進而應用於藥物標的之尋找,才是未來生物醫學發展之主要方向。同理,藉由基因功能學(Functional Genomics)領域來研究新發現之基因的功能、基因表現、與蛋白質產物,進而辨識有用的藥物標的(Drug target)及尋找新的疾病治療方法,才是基因解讀後最主要之生技醫療市場。全球生物科技之應用中以醫療用的生技產品所帶來的產值最為可觀,佔總體生技產業約七成以上之產值,其中又以重組蛋白藥品、單株抗體、疫苗及檢驗試劑之研發為主要重心,其中行政院更在“加強生物技術產業推動方案”裡,特別將蛋白藥物、抗癌藥物開發及檢驗試劑等領域列為重點推動項目,國內外許多生物科技公司研發專長及主軸亦座落於全球最熱門的生技製藥發展脈絡上。目前由於許多癌症、代謝失常疾病、遺傳性疾病及自體免疫疾病等,臨床之治療藥物仍舊是付之闕如或是供不應求,其中特別是各種癌症以及自體免疫疾病,如類風濕性關節炎、多發性硬化症、牛皮癬及過敏等,都是生技醫藥開發非常重要之疾病研究領域。現今臨床上所常用的藥物,普遍有特異性不佳、副作用大的缺點,因此國內外許多生物科技公司正戮力於針對上述疾病類別找尋合適之生技藥物或是小分子藥物,已達到標的治療(Target therapy)為目的;然而在生技醫藥公司草創初期,大都以技術掛帥,且由於藥品開發時間冗長,因此鮮少有生技醫藥公司能於設立初期10年內有產品上市,因此導致初期營運風險居高不下,令投資者裹足不前,所以如何評估具有成長潛力之生技醫藥公司頗為困難,因此本論文擬從生技藥品著手,除了傳統從技術面、產品面、市場面、競爭者、人力資源、策略經營等構面著手分析成長中之生技醫藥公司外,由於生技醫藥產業之特殊屬性,所以更特別注重產業成長時針對生物倫理面的考量,以做為生技醫藥公司具成長潛力之指標之一。希望透過多元的評估分析,能夠歸納出生技醫藥公司的成功要素,並藉此分析能夠有系統的篩選出具成長性、具社會責任之生技醫藥公司,才能擘畫生技醫藥公司維持長期競爭力、獲得永續發展的遠景,並藉此做為投資者長期投資評估之參考依據。zh_TW
dc.description.abstract (摘要) The completion of the human genome project is regarded as a turning point in biotechnology and medicine. This project is expected to produce sequence of DNA representing the functional blueprint and evolutionary history of the human species. As we entered the postgenomic era, what we faced is the explosion of new information, which is leading to dramatic changes in the way we are able to study and manipulation of life. At the first few years, many groups were competing in sequence decoding. However, the findings of the functions of genes and the interactions of different gene products are the main issues helping us exploit the new biotechnology markets. Through the research of functional genomics to explore the function, expression, and protein products of novel genes is helpful in identifying new drug targets and developing therapeutic strategies in treating various diseases. This is what we emphasized in biotech market after entering the postgenomic era. The most valuable branch of biotechnology industry is the medical products in global biotechnology market. The medical products take up to 70% of total sales in biotechnology markets. Among the medical biotechnology field, recombinant protein drugs, monoclonal antibodies, vaccines, and detection kits have been focused in pharmaceutical R&D investment. Executive yuan of the Republic of China decided to emphasized in protein drugs, anti-cancer drug development and detection kits in their “ The promotion plan of improving biotechnology industry”.

Currently, the drugs against cancers, metabolic diseases, inherited diseases, and autoimmune diseases are still unavailable. Especially the drugs for various cancers, and autoimmune diseases including rheumatoid arthritis, multiple sclerosis, psoriasis, and allergy are under intensive investment in global biotechnology industry. This is because the drugs used today have the deficiencies including low specificity and adverse side effects. Thus, target therapy using monoclonal antibodies and small molecular drugs are the goals for worldwide biotech companies. However, the development in research has been considered as the most important thing in the starting stage of newly founded biotech companies and the long time needed for putting a new drug to market make very few biotech companies have salable products. Thus, the newly biotechnology company has been considered has high risk in the beginning stage. This makes investors to hesitate in putting their money in this field. To evaluate the potential of a new biotechnology companies is difficult since the complex of this industry. This study will try evaluating a newly founded biotechnology company not only through technology, product, market, competitors, human resources, strategies, but also from the consideration in bioethics. Hopefully, through the evaluation of multiple markers, we can conclude the essential factors for a successful company and screen out the company with high growing potential via this study. Finally, this study might serve as a reference for investors in evaluating a promising company for long-term investment.
en_US
dc.description.tableofcontents 頁數
中文摘要 1
英文摘要 3
致謝 5
論文目錄 6
表目錄 8
圖目錄 9
第一章 緒論

第一節、研究背景及緣起 10
第二節、研究目的及可行性說明 13
第三節、研究方法 16
第四節、研究限制 18
第二章 產業回顧及文獻探討
第一節、全球生技醫藥產業之發展現況 21
第二節、國內外治療用生技藥品市場現況分析 33
第三節、生技藥品之各種適應症分析 41
第三章 生技醫藥產業之投資評估分析
第一節、生技醫藥產業之發展特性 49
第二節、新藥研發及核准上市之流程 54
第三節、生技醫藥產業之技術與產品評估 59
第四節、生技產業的合併與聯盟 65
第五節、生技醫藥公司投資評估之方法 78
第四章 生物倫理與生技醫藥產業之發展與投資
第一節、何謂生物倫理 88
第二節、生物倫理與生物醫藥產業發展的關係 98
第三節、與生物倫理議題相關之組織 102
第四節、生物倫理案例分析 105
第五節、生技醫藥產業之社會責任 125
第五章 結論與建議 135
參考文獻 145
附錄 148
附錄一:研究用人體檢體採集與使用注意事項。衛生署九十一年一月二日公告 149
附錄二:人體細胞組織優良操作規範(cGTP)。衛生署九十一年十二月十三日公告 159
附錄三:藥品優良臨床試驗規範(GCP)。衛生署八十五年十一月二十日公告 161
附錄四:1982年至2003年美國FDA核准上市之生技藥品 170
附錄五:截至2003年歐盟EMEA批准之生技藥品 175
附錄六:截至2004年7月中國大陸SFDA核准之生技藥品 178
附錄七:倫理規範及宣言參考資料 179
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dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0090359025en_US
dc.subject (關鍵詞) 生技醫藥zh_TW
dc.subject (關鍵詞) 生技藥品zh_TW
dc.subject (關鍵詞) 檢體zh_TW
dc.subject (關鍵詞) 人體臨床試驗zh_TW
dc.subject (關鍵詞) 投資評估zh_TW
dc.subject (關鍵詞) 生物倫理zh_TW
dc.subject (關鍵詞) 社會責任zh_TW
dc.subject (關鍵詞) 生技品牌zh_TW
dc.subject (關鍵詞) Biomedicineen_US
dc.subject (關鍵詞) Biopharmaceuticalen_US
dc.subject (關鍵詞) Specimenen_US
dc.subject (關鍵詞) Human clinical trialsen_US
dc.subject (關鍵詞) Investment evaluationen_US
dc.subject (關鍵詞) Bioethicen_US
dc.subject (關鍵詞) Social responsibilitiesen_US
dc.subject (關鍵詞) Biobrandsen_US
dc.title (題名) 生技醫藥公司之投資評估研究-生物倫理與社會責任之價值zh_TW
dc.type (資料類型) thesisen
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