India Launch Biopharmaceutical Alliance with US, Japan, & South Korea
Summit and Conference
3 min read
India, the United States of America, South Korea, Japan and the European Union have launched a Biopharmaceuticals Alliance. The first meeting of the Alliance was held in San Diego, the United States of America, during the Bio International Convention 2024, the world’s largest pharmaceutical exhibition.
What are Biopharmaceuticals?
Biopharmaceuticals are a type of medical drug which is produced by using a living being's organs and tissues, microorganisms, animal fluids, or genetically modified cells and organisms. It is different from drugs that are manufactured using different chemicals.
It uses biotechnology to produce drugs, which are mainly proteins and nucleic acids (DNA, RNA, or antisense oligonucleotides). It is estimated that in the next 5 to 10 years, around 50 per cent of the medical drugs to be developed will be biopharmaceuticals.
Reason and Aim for the formation of the Biopharmaceuticals Alliance
During the COVID-19 pandemic, severe disruptions in the drug supply led to shortages in many parts of the world. The production of essential raw materials and ingredients was concentrated in a few countries, which was badly disrupted during the pandemic. The alliance aims to prevent the occurrence of such a scenario in the future.
The alliance seeks to diversify and build a detailed pharmaceutical supply chain map.
The Biopharmaceuticals Alliance's mandate is to build a resilient supply chain in the biopharmaceutical sector.
At the meeting in San Diego, the member countries agreed to coordinate the respective countries' bio policies, regulations, and research and development support measures to develop a reliable and sustainable supply chain.
The BIO International Convention was held in San Diego, United States of America from 3 to June 2024. The Bio International Convention is considered to be the world’s largest event in the field of biotechnology with the participation of more than 18,500 industry leaders from across the globe.
