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About Biopharmaceutical Alliance

Context:

The Biopharmaceutical Alliance was recently inaugurated in San Diego during the Bio International Convention 2024, the world’s largest biopharmaceutical exhibition.

Relevance:

Facts for Prelims

About Biopharmaceutical Alliance:

  • Formation: An alliance of India, South Korea, Japan, the US, and the European Union aimed at developing a resilient supply chain in the biopharmaceutical sector.
  • Purpose: Emphasis on the need for a reliable and sustainable supply chain; agreement to coordinate biopolicies, regulations, and R&D support measures.
  • Production Acknowledgement: Recognition that essential raw materials and ingredients are concentrated in a few countries; commitment to collaboratively create a comprehensive pharmaceutical supply chain map.
  • Response to Crisis: Established in response to drug supply shortages experienced during the Covid-19 pandemic.
  • Inauguration: Launched during the Bio International Convention 2024 in San Diego.
    • Convention Details: The Bio International Convention is a premier event in the biotechnology industry, attracting over 20,000 global leaders.
    • Representation: Encompasses the entire biotech ecosystem, including public pharmaceutical companies, biotech startups, academia, non-profits, and government agencies.

-Source: The Hindu


June 2024
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