According to the corporate, authentication know-how just like the SoteriaRx platform presents defend sufferers from counterfeit merchandise. Additionally, the product allows pharmaceutical manufacturers to protect their model in opposition to harm to their popularity from a expensive recall.
Counterfeit medication pose a harmful, costly problem to the pharmaceutical business. The illicit drug provide business holds an estimated worth of $200m—about 2% of whole business income.
These inauthentic medication additionally pose a critical menace to sufferers. The World Health Organization (WHO) estimates that 16% of counterfeit medication comprise the flawed elements, whereas 17% comprise the flawed ranges of energetic elements. Also, greater than 30% of the counterfeit medication found circulating available in the market comprise no energetic elements in any respect.
Counterfeit merchandise steadily embody poisonous compounds, which might trigger antagonistic well being results. According to a CNN report, between 100,000 and 1m individuals die annually from counterfeit medication.
While manufacturers and producers incorporate traceability and safety measures aimed on the packaging stage, these might not be enough to dam and detect fraud. This is a specific concern in low- and middle-income international locations, the place fraudulent medicines can comprise as much as 70% of medicines inside their borders.
Kelly Boyer, normal supervisor of movie coatings for Colorcon, explains that the SoteriaRx supplies a extra integral means of monitoring and tracing medicines to show their authenticity.
“SoteriaRx on-dose authentication provides a powerful tool for tracking medicines from plant to patient and provides a level of supply chain authenticity and transparency not previously available. By incorporating microtags, the pill itself effectively becomes a barcode which can be digitally read and recorded, providing instant authentication,” she mentioned.