In January 2020, the Pharmaledger consortium started as a 36-month project to explore blockchain innovation in the pharmaceutical sector. As it’s about to enter its 34th month, the group wants to ensure that its work continues. Hence the 29 consortium members, including a dozen big pharma companies, have endorsed the creation of the non-profit Pharmaledger Association, which will continue its work.
The original consortium had €22 million ($21m) in backing, with part of the money coming from the EU-backed Innovative Medicines Initiative (IMI) and the balance from the European Federation of Pharmaceutical Industries and Associations (EFPIA) under the Horizon 2020 program.
In the future, the Pharmaledger Association will be funded by membership dues, so it’s looking to expand the number of participants. It could also generate income from companies that want its help on their own use cases.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
