Home » today » Business » The Ministry of Food and Drug Safety’s Budget Plan for 2024: Increase in Funding and Investment in Animal Alternative Tests for Cosmetics and Medicines

The Ministry of Food and Drug Safety’s Budget Plan for 2024: Increase in Funding and Investment in Animal Alternative Tests for Cosmetics and Medicines

The Ministry of Food and Drug Safety (Chief Oh Yoo-kyung) announced that it had organized 711.1 billion won in the budget for 2024. This is an increase of 34.6 billion won (5.1%) from the previous year.

The main contents are: ① Creation of safe food and healthy eating environment ② Expansion of basis for bio/health safety and innovative growth ③ Establishment of drug prevention/rehabilitation safety net and strengthening management ④ Preemptive food and drug safety management environment creation in preparation for the future .

7.5 billion won will be newly invested in standardization research (R&D) for the commercialization of animal replacement tests in the field of cosmetics. The budget is planned to be invested in animal alternative technology research (development of alternative test methods using biological tissue chips, organoids, and non-mammalians, etc.) for safety evaluation of medicines using advanced biotechnology.

(Related article New growth engine of cosmetics industry, development of ‘animal alternative test method’ (cncnews.co.kr) )

Regulation science talent cultivation and global collaborative research (R&D) applied for an increase from 5 billion won (’23) → 7.4 billion won (’24).

The Ministry of Food and Drug Safety’s 2024 budget plan will be finalized through the National Assembly deliberation process.

2023-09-01 02:25:04
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