TECHNOLOGY research and development standards group IEEE Standards Assocation (IEEE-SA) has analysed barriers and benefits of adopting blockchain technology for securing and optimising the pharmaceutical supply chain.
IEEE-SA Global Business and Strategic Initiatives director Maria Palombini said the organisation had sought to evaluate the technology for more secure pharmaceutical supply chain operations.
"Global pharmaceutical supply chains are complex, siloed, and operate with legacy platforms that do not easily enable collaboration amongst the many partners, compliance with regulatory guidance, and cannot guarantee the security of the distribution of medicine," Palombini told Drug Topics.
With WHO estimating 10% to 30% of drugs are counterfeit, the technology could support verification of drug sources as well as enabling secure prescription, patient, and drug data and much more, she said.
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