How do Pharma firms adopting serialization backbones, with appropriate infrastructure, attempt to reduce cost, minimize or reduce counterfeits, through technology implementations? Starting November 2018, the U.S. Food and Drug Administration (FDA) will begin enforcing the requirement in the Drug Supply Chain Security Act (DSCSA) to include a product identifier on prescription drug packaging. In the U.S. and other developed countries, counterfeit drugs are only about 1 percent of the supply, but in developing countries they can be as much as 40 percent. Many of these counterfeits lack the therapeutic ingredients, have the right ingredient but at the wrong dose, or are tainted with toxic substances. DSCSA calls for adoption of an interoperable tracking system by 2023, together with a high degree of product visibility, traceability, and reliability.
- Related keywords
- Business:
- Distributed Ledger
- Inventory Optimization
- Operations Planning
- Site Level
- Counterfeit Surveillance
- Product Quality
- FDA
- Drug Supply Chain Security Act
- Business Intelligence
- Analytics
- Technology:
- Block Chain
- Serialization
- ERP
- Data Governance
- Social challenges to be addressed through collaboration
- ・Decrease of counterfeit medication
- ・Product Quality Assurance
- ・Regulatory Compliance
- ・Drug Availibility
- Market size of collaboration business or business scale
- If NTT eyes 2 % of the Global Market i.e roughly $ 2.5 Billlion and if above challenges is 30% of the overall NTT Market Share i.e roughly $ 750 Million, startups can look atleast 30%-40% in this market.
- Assets and opportunities to be offerred
- https://us.nttdata.com/en/industries/healthcare-and-life-sciences/life-sciences/supply-chain-integration-and-analytics
- https://www.pharmamanufacturing.com/articles/2018/the-clock-is-ticking-life-science-companies-must-speed-up-efforts-to-meet-deadlines-for-complete-traceability/
- https://www.automationworld.com/article/industries/life-sciences/serialization-life-sciences