SAP SE announced its latest partnership with Chronicled Inc., a software company, to provide blockchain technology to help pharmaceutical companies comply with the U.S. Drug Supply Chain Security Act (DSCSA).
In this partnership, Chronicled’s MediLedger solution will serve as an integral part of SAP Information Collaboration Hub for Life Sciences, helping ensure patient safety and security for SAP’s customers in the pharmaceutical supply chain.
SAP Information Collaboration Hub for Life Sciences helps verify the authenticity of medicine packages returned to wholesale distributors from hospitals and pharmacies, which are then resold to customers as mandated by the DSCSA. Chronicled’s MediLedger solution will serve as an integral part of the collaboration hub by ensuring information exchange across a wide industry network. By utilizing blockchain technology, MediLedger provides a secure, reliable and distributed network to SAP customers to enable verification routing within the collaboration hub. This ability to detect potential counterfeit products improves patient safety.
The combined solution is already being utilized by nine of the top 20 global pharmaceutical companies and two of the top three U.S. wholesaler distributors.
Ralph Rio, ARC Advisory Group, commented, “The MediLedger solution uses blockchain to enable compliance with the US Drug Supply Chain Security Act. The legislation requires an electronic system to track and trace returned prescription drugs so they can be resold. The law becomes effective November 27, 2019, and compliance allows the resale of drugs worth $15 billion annually.”