News Mention: MSD – Building a Digital Superhighway
PharmaLedger was mentioned in an article published around our partner, MSD, by Supply Chain Magazine.
MSD is a leading global biopharmaceutical company and one of PharmaLedger’s partners. For over 130 years, their focus has been on using innovative methods to develop medicines and vaccines against diseases affecting both humans and animals. In the December 2021 issue of their Supply Chain Digital magazine, BizClick Media Group interviewed MSD to discuss digital supply chains, blockchain and the need for industry collaboration to apply this emerging technology. The article, titled “Building a Digital Superhighway” references PharmaLedger on pages 38-41. You can view the full magazine below.
Adding Value with Blockchain
A key component of MSD’s digital transformation programme is to offer more value through blockchain innovation. Blockchain technology offers many benefits within healthcare and allows specific markets to be targeted with the applications most useful to them (i.e., the electronic leaflet (eLeaflet) in paperless markets and anti-counterfeiting measures in emerging markets).
One such example is the mobile application being used in Hong Kong for Gardasil®9 (MSD’s vaccine for HPV). By utilising blockchain technology within the mobile app, both healthcare providers and patients are able to verify the origins of the vaccines they receive as well as report any potentially suspicious packages. This helps to increase the safety of all patients since counterfeit medicines are widespread throughout the region.
PharmaLedger: Opening the Conversation
As the article continues, industry collaboration is highlighted as necessary to unlock the power and potential of blockchain technology’s healthcare applications. Paolo Migliari, executive director of supply excellence at MSD, acknowledges this by saying, “Blockchain is a team effort.”
By working together, pharmaceutical companies are better equipped to provide the best supply chain visibility, product quality, and advance anti-counterfeit measures possible. Additionally, platforms hoping to utilise blockchain within the healthcare industry must provide all entities and individuals using the platform with privacy, security and ownership over their own data.
The consortium approach structuring the PharmaLedger project helps to better shape a well-rounded, blockchain-enabled healthcare ecosystem. Aside from bringing together 12 global pharmaceutical companies with 17 public and private healthcare entities, we are developing a blockchain-based platform around the needs of all stakeholders involved.
For example, implementation of the Finished Goods Traceability use case into the platform ensures greater product transparency by connecting all parties along the supply chain, effectively reducing the chance of receiving counterfeit or falsified medicines. Furthermore, DSU (Data Sharing Unit) utilisation along with the decentralised nature of the blockchain platform provide the necessary privacy and security. We are excited to see how PharmaLedger’s group effort unfolds in 2022, but also how it evolves in the “Next Gen” after the projects’ sponsorship finishes at the end of this year.
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