Medisafe 1 to develop anticounterfeiting product
Barcoded system will aim to confirm the origin and authenticity of prescription medications
Medisafe 1 Technologies, a developer of patented technologies that physically prevent unauthorised administration of prescription medications, is to begin development of a barcoded system to confirm the origin and authenticity of prescription medications.
The product is aimed at reducing ingestion of counterfeit medications by enabling both prescription drug manufacturers and pharmaceutical retailers to confirm that appropriate and authentic medications are delivered to patients.
‘It is estimated that 200,000 people die each year from ingesting counterfeit medications,’ said Jacob Elhadad, ceo of Medisafe 1 Technologies. ‘The counterfeit market is incredibly large and pharmaceutical companies are losing billions of dollars to counterfeit sales while patients in need of medication are at significant risk.
‘Developing products that ensure that appropriate medications are administered to a patient is the mission of Medisafe 1 Technologies.’