India, S.Korea, US, Japan, EU launch bio-pharmaceutical alliance

Seoul, June 6: India, South Korea, the US, Japan, and the European Union (EU) on Thursday launched an alliance to put joint efforts to build a resilient supply chain in the bio-pharmaceutical sector. The inaugural meeting of the Biopharmaceutical Alliance was held in San Diego during the Bio International Convention 2024, the world's largest bio-pharmaceutical exhibition, Yonhap news agency reported.

Government officials and representatives from bio and pharmaceutical companies from the participating countries attended the meeting.

The participants emphasised the importance of a reliable and sustainable supply chain and agreed to coordinate the respective countries' bio policies, regulations, and research and development support measures.

They recognised the production of essential raw materials and ingredients is concentrated in a few countries and agreed to work together to build a detailed pharmaceutical supply chain map. The alliance was launched in response to the drug supply shortages experienced during the Covid-19 pandemic.

South Korea and the US agreed to hold their dialogue on core emerging technologies in December, and expanded it to include Japan, India, and the EU, the report said.