Tag Archives: pharma supply chain

GSK, Viant give blockchain-based tracking a shot

Dive Brief
Viant, an Ethereum-based blockchain platform built for supply chains, will collaborate with pharmaceutical company Glaxo Smith Kline and several others to speed deployment of blockchain-based supply chain systems.
– For the biopharma industry, blockchain could help manage complicated supply chains and provide the means to track use of licensed technologies — an area GSK plans to explore with Viant, according to a release.
– Other companies participating in Viant’s beta test include Imaginea, a zero carbon venture; Microsoft; The Wold Wildlife Fund, which seeks to create more sustainable fisheries, and an unspecified oil and gas company.

Dive Insight
The pharmaceutical industry is experimenting blockchain, partly in an effort to meet Drug Supply Chain Security Act standards.
“In the near future governments and regulatory bodies will recognize the power of blockchain technology and mandate its use in the pharmaceutical industry,” said Tyler Mulvihill, cofounder of Viant. “For example, the U.S. Drug Supply Chain Security Act has mandated unit-level track and traceability for pharmaceuticals by 2023. Blockchain is an amazing way accomplish this in a provably immutable way.”

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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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