Pharmaceutical Sector Current Affairs - 2020

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President Trump visit to India: 2 MoUs and 1 Letter of Cooperation signed

On February 24, 2020, the US President Donald Trump visited India along with his wife Melania Trump. On the sidelines of his visit, agreements were signed in the field of health, oil and defence.

Highlights

In the Defence Sector, 3 billion USD worth deal was signed to buy helicopters. The Memorandum of Understandings were signed in the field of oil and health. In the field of health, Central Drugs Standard Control Organization and the US Food and Drug Administration signed agreements over the safety of medical products.

Significance of MoU with USFDA

It is essential to be on good equations with the USFDA and also abide by its regulations. This is because, the pharmaceutical exports to USA require USFDA certification. And US is the top export destination of Pharmaceuticals for India. In 2018-19, around 5820 million USD worth pharmaceuticals were exported to US from India.

The signing of this MoU will help the pharmaceuticals increase their exports to US.

Other Agreements

An MoU was also signed between the mental health departments of the countries. The countries also signed a letter of cooperation in the field of Oil.

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Temperature controlled largest Terminal to store Agro and Pharma Products launched at Mumbai airport

The Mumbai airport has recently launched the world largest temperature-controlled facility to store agro and pharma products. The “Export Cold Zone” launched is capable of holding more than 700 tonnes of cargo.

Highlights

The terminal connects 500 cargo destinations spread across 175 countries. The unit is spread over 6,000 square metres. It is spread across 12 truck docks equipped with dock-levellers, automated workstations, spacious acceptance and examination area, X-Ray machines and Ball mat system for Unit Load Device.

Mumbai Airport is one of the few airports in the world, first in the country and third in Asia to obtain IATA CEIV PHARMA accreditation.

IATA CEIV PHARMA

It is an accreditation provided by International Air Transport Association. The Centre of Excellence for Independent Validators in Pharmaceuticals Logistics (CEIV Pharma) was launched by IATA in order to enhance the supply chain of pharma products all over the world. This accreditation establishes safety, security, efficiency and compliance in handling pharmaceutical products.

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