South Korea, India, the United States, Japan and the European Union (EU) have come together to launch a coalition to make joint efforts to build a resilient supply chain in the biopharmaceutical sector, the South Korean presidential office said in Seoul on June 6.

The inaugural meeting of the Biopharmaceutical Alliance, held in San Diego during the Bio International Convention 2024, gathered representatives from participating countries, South Korean government officials, and bio and pharmaceutical companies. Yonhap The news agency gave this information.

The participants stressed the importance of a reliable and sustainable supply chain and agreed to coordinate bio policies, regulations and R&D support measures of the relevant countries.

They acknowledged that production of essential raw materials and ingredients is limited to a few countries and agreed to work together to develop a detailed pharmaceutical supply chain map.

This alliance was launched in view of the shortage of medicine supply during the COVID-19 pandemic.

South Korea and the US agreed to form the alliance during their talks on key emerging technologies in December and have expanded it to include Japan, India and the European Union, the report said.