Switzerland and the USA Facilitate Trade in Medicines
Published: Thursday, Jul 27th 2023, 14:00
Updated At: Friday, Oct 13th 2023, 14:12
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The Switzerland and the United States have simplified trade in medicines with the Mutual Recognition Agreement (MRA) coming into effect on Thursday. This agreement reduces the administrative burden for the industry by allowing the authorities of both countries to rely on each other's inspection results. The MRA was signed in January and was positively evaluated by Swissmedic and the US Food and Drug Administration (FDA). The agreement will allow pharmaceutical companies to reduce costs and shorten delivery times, as well as improve supply security. The USA is the second most important trading partner for the Swiss pharmaceutical industry, with exports of medicines to the USA worth around 29 billion Swiss francs in 2022 and imports of medicines from the USA worth around 5 billion Swiss francs. Swissmedic welcomed the agreement and is working to extend the scope of the agreement to include vaccines.
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