An American technology company is utilising mobile phone technology in an attempt to combat the $75 billion-a-year counterfeit drugs market. Copies of proprietary brand drugs not only eat into the margins of pharmaceutical companies, who invest hundreds of millions of dollars in developing medicines every year, but also threaten the health and safety of those that take medicines not subject to stringent industry testing.
Drug counterfeiting is a global problem and is endemic in certain parts of the developing world where up to 30% of all medicines are counterfeit. To combat the increasing availability of fake drugs, PharmaSecure has developed a system that creates a direct link between manufacturers and the end user. This provides consumers with a guarantee that the medicines they are taking were produced by the licensed and regulated company.
PharmaSecure’s track and trace authentication system provides a unique ID code on product packaging, which can be used to track every stage of the drug’s journey through the supply chain right into the hands of the end customer. The customer can then use a simple SMS messaging system to verify authenticity. The system ensures the customer is protected from the dangers of counterfeit medicine and the company protects its trademark as well as maintaining the integrity of its products and brand identity.
Due to the simplicity of the system and the relatively low cost of implementation, PharmaSecure track and trace programme has the ability to be scaled on a global level and deal a severe blow to the counterfeiters.