How Blockchain and IOT can help in the fight against counterfeit medicines
28 September 2023
Applying blockchain and IoT to the pharmaceutical supply chain
One of the biggest challenges for pharmaceutical companies (manufacturers) is counterfeit medicines. This problem has a huge impact on both the manufacturers, who miss out on billions in revenue, and patients, who may end up ingesting toxic ingredients having the wrong composition of chemical compounds or wrong or undesirable active salts.
This can lead to a deterioration in health – or even loss of life if this concerns a lifesaving drug. With ongoing reported incidents of fake or counterfeit pharmaceuticals and medicines worldwide, it is apparent that no country is immune from this threat.
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