BRICS Healthcare Regulatory Authorities Unite at SPIEF 2024
Strengthening Cooperation in Medical Product Regulation
The BRICS healthcare regulatory authorities convened in St. Petersburg on June 5, 2024, on the sidelines of the St. Petersburg International Economic Forum (SPIEF). The meeting aimed to foster cooperation and discuss the Memorandum of Understanding on Cooperation in the Field of Regulation of Medical Products for Human Use, signed in December 2023.
Sharing Best Practices in Regulatory Frameworks
Recognizing the shared public health challenges faced by BRICS countries, regulators identified opportunities for mutually beneficial cooperation. They actively exchanged experiences regarding good regulatory practices, frameworks, and open cooperation channels. Moreover, they gained a deeper understanding of medical product registration requirements across BRICS nations. Consequently, this cooperation will facilitate the sharing of best practices in regulatory frameworks. Ultimately, it will lead to enhanced access to quality medical products.
Combating Counterfeit Medical Products
The regulators also discussed the pressing issue of substandard and counterfeit medical products. By working together, they can share strategies and best practices to combat this menace. In addition, this cooperation will help to protect patients from the harmful effects of counterfeit products, thereby ensuring that medical products meet the required standards of safety, efficacy, and quality. Furthermore, their collaborative efforts will strengthen the fight against counterfeit medical products.
Establishing a Joint Working Group
To elevate cooperation, BRICS countries plan to establish a Joint Working Group of Regulators. Additionally, they will explore forming an Association of BRICS Healthcare Regulatory Authorities. This proposal received widespread approval at the ‘Drug Security in BRICS Countries’ plenary session. Moreover, the Association will serve as a platform for regulators to share knowledge, expertise, and resources. Consequently, it will enhance regulatory capacity and streamline Medical Products registration processes. Ultimately, this collaborative approach aims to improve access to quality, safe Medical Products.
Industry Engagement and Cooperation
BRICS regulatory authorities and pharmaceutical companies held an open meeting. During this meeting, they gave presentations on national regulatory requirements within BRICS. Additionally, they discussed opportunities for exporting and importing medical products. Industry representatives shared their significant achievements and developments. Notably, this marked the first time regulators and industry representatives jointly identified opportunities. The aim was further cooperation to bring pharmaceutical products to markets within BRICS and beyond.
The meeting of BRICS healthcare regulatory authorities at SPIEF 2024 marked a significant step towards strengthening cooperation in medical product regulation. By working together, regulators can improve access to quality medical products, combat counterfeit products, and promote public health. The Roscongress Foundation managed the events of Russia’s BRICS Chairship, facilitating this critical step in strengthening cooperation among BRICS healthcare regulatory authorities.