Provide a detailed analysis of the supply chain risks in the pharmaceutical industry on the following topics:

1. Global Risks:

Geopolitical Tensions: Trade wars or diplomatic tensions can affect the supply of essential raw materials or access to crucial markets.

Pandemics: As seen with COVID-19, pandemics can disrupt the entire supply chain due to increased demand, logistical challenges, and manpower shortages.

Intellectual Property Issues: Disputes related to patents can prevent the sale of certain medicines in key markets.

2. Susceptible Developing World/Emerging Market Context:

Infrastructure Challenges: Inadequate infrastructure can lead to delivery delays.

Regulatory Uncertainty: Emerging markets often have evolving regulatory landscapes, making compliance challenging.

Currency Fluctuation: Currency volatility in emerging markets can impact costs and revenues.