Is Blockchain The Right Technology For The Pharma Supply Chain?

By George Serafin & Lisa Walkush

Drug counterfeiting is a well-recognized and documented problem that affects human lives, as well as the reputation and ROI of the pharma industry. In the U.S., the Drug Supply Chain Security Act (DSCSA) was enacted to protect consumers from counterfeit drugs. The act requires manufacturers and other supply chain parties to build and implement an electronic system that will precisely identify and track the origin of prescription drugs in the United States. Passed in 2013, the act has a deadline for full implementation by 2023.

Internationally, there is the Global Traceability Standard for Healthcare (GTSH) that defines the process standard, explaining and establishing the minimum requirements for all stakeholders involved in the healthcare supply chain internationally. Yet the full implementation of global traceability standards as a cohesive solution is still a work in progress. Blockchain may prove to be the technology that will help save lives and secure the supply chain globally.