The pharmaceutical industry in the U.S and Europe is facing regulatory pressure to bolster its ability to track and trace the drugs that are manufactured and shipped to pharmacies and hospitals. The regulations also include tracking medications that are returned by stores and healthcare facilities for resale.
Infosys Pharma Supply Chain Distributed Application is designed to provide a seamless network for suppliers, manufacturers, regulators, QA lab and logistics operators on a shared ledger to establish provenance for specialty drugs at package level and reduce revenue leakage to pharmaceuticals.
Infosys Pharma Supply Chain Distributed Application provides a pre-configured blockchain powered network on improving supply monitoring to enhance quality control of medicine, provide data for more targeted inventory and recall management and save lives. It aims to track an immutable record of pharma supply chain transactional data and ease the certification of raw materials and drugs. The network combines a look-up directory accessed through a blockchain with a permissioned messaging network which enables companies to securely request and respond to product ID verification requests. Only authorized companies can put their products in the directory.
A blockchain based pharma supply chain solution would improve traceability and transparency across the participants and authorities in the supply chain and would ensure better compliance.
A blockchain based pharma supply chain management track and trace system has a vast potential to tackle this growing illicit industry by tracking the movement of drugs between suppliers, manufacturers, wholesale distributors, pharmacy, hospitals, regulators and logistics.
A blockchain solution can prevent drug recalls or assist targeted recalls due to mislabeling, contamination and failed specifications to provide a more secure and transparent reporting of changes in operating conditions of transported pharmaceutical products.
A blockchain based end-to-end traceability of the specialty drugs together with the environmental parameters would enable patients to access the provenance of the specialty medicine’s journey from the manufacturer including the environmental conditions, distributors and pharmacy details.