4 reasons why pharma serialization needs the Blockchain

Blockchain in Pharma
Due to regulatory mandates, the Pharma industry has identified Product Serialization as a key to reducing the amount of counterfeit drugs entering the supply chain. Serialization utilizes applications and systems to track and trace the channeling of prescription drugs as they move throughout the entire supply chain. Serialization provides a series of unique identifiers (ie National Drug Code + Unique Serial Numbers) for identifying drugs that may be traced from the API (Active Pharmaceutical Ingredients) Suppliers all the way to the patient. What serialization is focused on is based on these 4 factors:

1. Providing Visibility and Control within the entire supply chain
2. Product Verification
3. Product Traceability
4. Reduction in Counterfeit Drug Production

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iSolve – Blockchain Innovation for BioPharma