New platform of innovative on-dose technologies and detection services for the authentication of medications will help to protect patients and uphold brand integrity
Colorcon, a world leader in the development and supply of film coating systems and excipients, today announces SoteriaRx.
Counterfeit drugs are a major problem for the pharmaceutical industry, both in terms of financial impact and compromising on patient safety.
The illicit drug supply industry is estimated to be worth $200 billion or 2% of total pharma revenue. Traceability and security measures focused at the packaging level are not enough to deter fraud — especially in low- and middle-income countries where either substandard or falsified medicines can account for up to 70% of medications distributed internally.
The solution is smart medications with on-dose taggants that can be authenticated throughout the supply chain.
Kelly Boyer, General Manager Film Coatings, explains: “SoteriaRx on-dose authentication provides a powerful tool for tracking medicines from plant to patient and provides a level of supply chain authenticity and transparency not previously available."
"By incorporating microtags, the pill itself effectively becomes a barcode which can be digitally read and recorded, providing instant authentication.”
Martti Hedman, CEO, adds: “The digitalisation of medicines represents a major step forward in the fight against unauthorised and illegitimate pharmaceutical production and provides an opportunity to safeguard patients."
"This investment to bring on-dose authentication technology to market demonstrates Colorcon’s commitment to respond to the needs of the pharmaceutical industry by developing innovative solutions that are efficient to deliver and which offer dependable performance.”