The Blockchain Solution to the Counterfeit Drug Problem

Takeaway: Blockchain’s public ledger could be the solution to the problem of counterfeit drugs by tracking all drugs throughout the complete supply chain from raw materials to patients.

In addition to posing a health risk to patients harmed by placebos or even harmful ingredients in the fake drugs, counterfeits add up to a major loss for the pharmaceutical industry to the tune of hundreds of billions a year. Aside from concerns about harm and loss, new legal requirements that demand traceability for drugs are kicking in.

Counterfeit drugs have been identified as a persistent global problem since 1985. The World Health Organization (WHO) estimates that around 10 percent of drugs found in low to middle income countries are counterfeit. That translates into the deaths of tens of thousands of people with diseases who took medication without the necessary active ingredient to treat their conditions.

Given that what is at stake is not just billions of dollars for the pharma industry, but the lives and health of millions of people who have been prescribed medication, all the involved parties should come together to solve the problem of counterfeit drugs. If the difficulties in accountability and identification for drug production could be remedied by blockchain, it should be universally implemented.

Read more in  Countering Counterfeit Drugs with Blockchain

SaaS for Clinical Studies

"As a single system made up of many components, iMedNet EDC "can be configured [any] way you want." It offers drag and drop options for setting up dashboards and to-do lists that help users keep their studies on track. It also has options for individualized levels of access; each user gets his or her own ID and password that can be specified to a very detailed level for what the user can access and upload."
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Seeding SaaS to Speed Up Clinical Studies

Data on drugs, dollars, & docs

One of the issues that Dan Ariely addressed in his book, The Honest Truth About Dishonesty, and in his 2009 blog, centered on the question of payments to doctors:

The real issue here is that people don’t understand how profound the problem of conflicts of interest really is, and how easy it is to buy people. Doctors on Pfizer’s payroll may think they’re not being influenced by the drug maker -- 'I can still be objective!' they’ll say -- but in reality, it’s very hard for us not to be swayed by money. Even minor amounts of it. Or gifts. Studies have found that doctors who receive free lunches or samples from pharmaceutical reps end up prescribing more of the company’s drugs afterwards.

Propublica launched Dollars for Docs. to publicize how much doctors are paid. At this point, its data encompasses more than $2 billion in payments that 15 major drug companies made to doctors in the period from 2009 for 2012.
Read more in Data on Drugs, Dollars & Doctors