Tag Archives: Blockchain

Blockchain surge could save pharma billions

Blockchain pharmaGartner Research has predicted business value from blockchain technology will total slightly more than $176 billion by 2025, then surge to exceed $3.1 trillion just five years later.

Given blockchain’s peer-to-peer transactional capabilities, those growth projections signify huge potential disruption for many industries, especially pharmaceuticals. I found out how Merck & Co. is getting ahead of the pack during my VIDEO interview with company leaders at SAP TechEd in Las Vegas.
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Title II of the Drug Quality and Security Act

Big Pharma turns to Blockchain to track meds

Blockchain in Pharma

The pharma industry may be on the verge of solving a longtime problem: How to stop a flow of stolen or counterfeit pills entering the supply chain and trickling down to patients.

The answer comes in the form of blockchain technology, a form of software that runs across multiple computers, and creates a tamper-proof, indelible record of transactions.

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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