India, the United States, South Korea, Japan, and the European Union have launched a Biopharmaceuticals Alliance, with its first meeting held in San Diego, USA, during the Bio International Convention 2024, the world’s largest pharmaceutical exhibition.
What are Biopharmaceuticals?
Biopharmaceuticals are medical drugs produced using living organisms’ organs, tissues, microorganisms, animal fluids, or genetically modified cells. Unlike chemically manufactured drugs, biopharmaceuticals use biotechnology to produce proteins and nucleic acids (DNA, RNA, or antisense oligonucleotides). It is projected that within 5 to 10 years, biopharmaceuticals will comprise around 50% of new medical drugs.
Reason and Aim for the Alliance
The COVID-19 pandemic revealed severe disruptions in the drug supply chain, causing global shortages. The Alliance aims to prevent future supply chain breakdowns by diversifying and mapping the pharmaceutical supply chain in detail. Its mandate includes building a resilient biopharmaceutical supply chain, coordinating bio policies, regulations, and R&D support measures among member countries.
Key Outcomes of the San Diego Meeting
During the meeting in San Diego, member countries agreed to coordinate their bio policies, regulations, and R&D measures to ensure a reliable and sustainable biopharmaceutical supply chain. The BIO International Convention, held from June 3-6, 2024, is considered the world’s largest biotechnology event, attracting over 18,500 industry leaders globally.
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