Yesterday TraceLink which runs a
pharmaceutical digital supply network,
announced that it has created a blockchain pilot for the requirements of the Drug Supply Chain Security Act (DSCSA). The company has submitted the solution to the
Food and Drug Administration’s (FDA) Pilot Project Program announced a month ago.
In 2013 the US introduced the DSCSA in part to address the significant counterfeit drug market which is estimated at $200 billion globally. The solution is to make the drugs traceable by ensuring serialization so there is an identifier on each package and the ability to trace the history. To address the challenge participants in the supply chain need to interoperate. That includes manufacturers, repackagers, wholesale distributors, pharmacies and hospitals.
By November 29th this year distributors need to verify returned pharmaceutical packages to ensure they’re not counterfeit. Returns amounts to $7 billion a year, so the aim is to prevent counterfeit drugs being re-sold by legitimate wholesalers.
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.
