Tag Archives: pharmaceutical traceability

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

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

Blockchain: the technology to make DSCSA work after 2023?

Blockchain in pharmaIndustry experts are grappling with the eventual requirement to provide accurate supply-chain traceability.

DSCSA

Not withstanding FDA’s June 30 announcement that it was delaying enforcement of the Drug Supply Chain Security Act’s next phase by one year (November 2017 to November 2018), the global pharma industry will have invested several billion dollars in hardware and software to comply with that law and related efforts to secure the pharma supply chain around the world.

drug traceability requirements

And while other countries have their own pathway toward providing traceability of pharma shipments, the US’ effort has a small problem: as written, no one knows how the law will work effectively by 2023 when all of its components are to be in place. Oops!
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By Nicholas Basta