NEWS – Biopharmaceutical Alliance launched

HIGHLIGHTS

Background and Purpose

• The alliance was launched in response to drug supply shortages during the Covid-19 pandemic.
• The aim is to build a resilient supply chain in the biopharmaceutical sector.

Participants and Inaugural Meeting

• South Korea, India, the United States, Japan, and the European Union (EU) are the participating countries.
• The inaugural meeting took place during the Bio International Convention 2024 in San Diego.

Objectives of the Alliance

• Coordinate bio policies, regulations, and research and development support measures among member countries.
• Emphasize the importance of a reliable and sustainable supply chain in the biopharmaceutical sector.

Key Agreements and Initiatives

• Agreement to work together on building a detailed pharmaceutical supply chain map.
• Acknowledgment of concentration of essential raw materials and ingredients in few countries.
• Expansion of the alliance from South Korea and the U.S. to include Japan, India, and the EU.

Impact and Significance

• Strengthening collaboration among major global players in the biopharmaceutical sector.
• Enhancing preparedness and response capabilities in times of healthcare emergencies.
• Promoting innovation, research, and development in the biopharmaceutical industry.