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
