Merck, IBM, KPMG Walmart team up pharmaceutical blockchain pilot project
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Merck, IBM, KPMG and Walmart team up for pharmaceutical blockchain pilot project

6:18 AM, 14th June 2019
Pharmaceuticals Industry

KENILWORTH, US: Merck, IBM, KPMG and Walmart said that the companies have been selected by the United States Food and Drug Administration (FDA) to be included in a program in support of the US Drug Supply Chain Security Act (DSCSA) that addresses requirements to identify, track and trace prescription medicines and vaccines distributed within the United States.

The program is intended to assist drug supply chain stakeholders, including FDA, in developing the electronic, interoperable system that will identify and trace certain prescription drugs as they are distributed within the United States.

Each company brings unique expertise to the project, which will create a shared permissioned blockchain network that allows real-time monitoring of products. The proposed network is intended to help reduce the time needed to track and trace inventory; allow timely retrieval of reliable distribution information; increase accuracy of data shared among network members; and help determine the integrity of products in the distribution chain, including whether products are kept at the correct temperature.

Blockchain is designed to establish a permanent record and may be integrated with existing supply chain and traceability systems.

The pilot project is scheduled to be completed in fourth quarter of 2019, and results are expected to be published in an FDA DSCSA program report. At that time, the project’s participants will evaluate next steps.

“Our supply chain strategy, planning and logistics are built around the customers and patients we serve. Reliable and verifiable supply helps improve confidence among all the stakeholders—especially patients—while also strengthening the foundation of our business,” said Craig Kennedy, Senior Vice President, Supply Chain, at Merck, which is known as MSD outside the US and Canada.

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