Global Alliance Launched to Strengthen Biopharmaceutical Supply Chain
India, South Korea, the US, Japan, and the European Union (EU) have formed an alliance to enhance the resilience of the biopharmaceutical supply chain. The Biopharmaceutical Alliance was inaugurated in San Diego during the Bio International Convention 2024, the world's largest biopharmaceutical exhibition, as reported by Yonhap news agency.
Government officials and representatives from bio and pharmaceutical companies from the participating countries attended the inaugural meeting. The participants underscored the importance of a reliable and sustainable supply chain, agreeing to coordinate their bio policies, regulations, and research and development support measures.
The alliance aims to address the concentration of essential raw materials and ingredients production in a few countries. To mitigate this, the members will collaborate on creating a detailed pharmaceutical supply chain map. This initiative responds to the drug supply shortages experienced during the Covid-19 pandemic.
South Korea and the US initially agreed to hold dialogues on core emerging technologies in December, later expanding the discussions to include Japan, India, and the EU.
This global partnership represents a significant step towards ensuring a robust and dependable biopharmaceutical supply chain, safeguarding against future disruptions.
