An alliance involving South Korea, the United States, Japan, India and the European Union (EU) has been launched to put joint efforts to build a resilient supply chain in the biopharmaceutical sector, the presidential office said Thursday.
The inaugural meeting of the Biopharmaceutical Alliance was held in San Diego during the Bio International Convention 2024, the world's largest biopharmaceutical exhibition.
Government officials and representatives from bio and pharmaceutical companies from the participating countries attended the meeting.
The participants emphasized 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 recognized 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 U.S. agreed to form the alliance during their dialogue on core emerging technologies in December, and expanded it to include Japan, India and the EU.
This article was first published on 6 June by KERC.
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