Tracesci Global will highlight the importance to protect the pharmaceutical industry from counterfeiting at the PharmaTech exhibition in Chandigarh, 11-13 April 2023.
Counterfeit drugs are a threat to the growth and sustainability of the pharma sector. It is important that anti-counterfeiting measures be taken at each manufacturing site. Tracesci recommends the adoption blockchain-based track, trace and trace solutions to provide manufacturers with 360° visibility and control of their supply chains.
The issue of counterfeit and spurious drugs has been an ongoing problem for the pharmaceutical industry. These problems have been made worse by the Covid-19 pandemic.
CRISIL ASPA’s recent report, The State of Counterfeiting in India, 2022, estimates that 0.1% to 3% of India’s medicines are fake. However, distributors and authentication service providers believe this figure could rise to 10-20% of India’s total pharmaceutical market.
“With TRACESCI, a brand can obtain an effective product authentication solution that includes tracking legitimate products throughout the supply chain, a consumer engagement app, and an efficient reporting system, all under one unique SAAS-based track and trace platform,” said Priyanka Rathi, DGM, marketing and communication at Jetsci Global & Tracesci Global.
Kunal Kothari, product manager at Tracesci Global, added, “As a global specialist in product authentication and traceability, we are successfully fortifying governments and brands alike through our intuitive, innovative blockchain-based supply chain manufacturer interface. With Tracesci, traceability is just a tap away.”