BIOPHARMACEUTICAL ALLIANCE LAUNCHED BY INDIA, S. KOREA, US, JAPAN, EU
The Biopharmaceutical Alliance has been launched to address the drug supply shortages experienced during the Covid-19 pandemic. This alliance includes South Korea, India, the United States, Japan, and the European Union (EU).
SIMPLIFIER:
What is the objective of the Biopharmaceutical Alliance? The objective is to enhance the resilience of the biopharmaceutical supply chain.
Who are the participants in the alliance? The alliance includes government officials and representatives from bio and pharmaceutical companies of South Korea, India, the United States, Japan, and the European Union (EU).
What will the countries coordinate? The countries will coordinate their bio policies, regulations, and research and development support measures.
Why is there a need for a pharmaceutical supply chain map? A comprehensive pharmaceutical supply chain map is needed to mitigate reliance on a few countries for essential raw materials and ingredients.
What are biopharmaceuticals? Biopharmaceuticals are medical drugs produced using biotechnology. They include proteins (such as antibodies), nucleic acids (such as DNA, RNA), and living cells that are used for therapeutic or diagnostic purposes. These drugs are often more complex and more targeted than traditional pharmaceuticals.
What is the Bio International Convention? The Bio International Convention is a global event that brings together representatives from biotechnology and pharmaceutical companies, academic institutions, and government agencies to discuss and promote advancements in the biotechnology sector.
How did the alliance start? The alliance was initiated by discussions between South Korea and the U.S. in December and has now expanded to include Japan, India, and the EU.
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