Finance
On Thursday, the US, Japan, South Korea, India, and the EU formed an agreement to work together to create an effective supply chain in the biopharmaceutical industry.
According to Yonhap news agency, the world’s largest biopharmaceutical show, Bio International Convention 2024, was the setting for the inaugural meeting of the Biopharmaceutical Alliance, which took place in San Diego.
Attendees at the summit included representatives from participating countries’ bio and pharmaceutical industries as well as government officials.
The delegates agreed to synchronize the biopolicies, regulations, and research and development assistance measures of their various countries and emphasized the significance of a dependable and sustainable supply chain.
They acknowledged that a small number of nations produce the majority of the critical chemicals and raw materials, and they decided to collaborate to create a thorough map of the pharmaceutical supply chain.
The Covid-19 pandemic-related difficulties in the medicine supply prompted the formation of the alliance.
According to the article, the US and South Korea decided to continue their conversation on key new technologies in December and extended it to include Japan, India, and the EU.
Source:IANS
