Global Biopharmaceutical Titans Unite for Resilient Supply Chain

South Korea, India, the US, Japan, and the EU have launched a Biopharmaceutical Alliance to create a resilient supply chain in the biopharmaceutical sector. The alliance aims to address drug supply shortages and coordinate bio policies and R&D measures, with its inaugural meeting held in San Diego.

In a significant move, South Korea, India, the United States, Japan, and the European Union have formed an alliance to bolster a resilient supply chain in the biopharmaceutical sector. The announcement was made by the South Korean presidential office on Thursday.

The inaugural session of this Biopharmaceutical Alliance took place in San Diego, coinciding with the Bio International Convention 2024, the globe's premier biopharmaceutical expo. Attendees included government representatives and key players from bio and pharmaceutical industries of the involved nations, according to South Korea's Yonhap news agency.

The coalition underscored the necessity for a robust and sustainable supply chain, pledging to synchronize national bio policies, regulatory frameworks, and R&D initiatives. They also committed to creating a detailed pharmaceutical supply chain map to mitigate the risks experienced during the COVID-19 pandemic due to concentrated production of essential materials.

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