Dr. Jann Bayer AG – Digital Lead Product Supply SCM / Track & Trace at Bayer and Professor Yvonne – Frankfurt University of Applied Sciences will present the topic “Tracking of pharma products using blockchain & IOT” at the 5th BSMA Europe Conference on November 12.
Will the blockchain, which is a transparent, secure, and centrally controlled technology for storing and transmitting information, be the solution for advancing the pharmaceutical and biotech industry in the coming years?
Many manufacturers in the sector have made progress in this direction, and we will have the opportunity to discover the work that Bayer, in collaboration with the University of Frankfurt, is doing in this area. Other initiatives, notably supported by Pharmaledger at the European level, will also be addressed by other players.
The blockchain was already discussed at the first BSMA conference in Europe in 2016 and has been gaining momentum since then. Recently and with the COVID-19 crisis that we are targeting, the blockchain has been put forward as a solution to mitigate many of the challenges encountered.
A number of benefits could be envisaged: privacy, transparency, and traceability. It will also help with the industry’s laws, practices, privacy, and global regulations. We also mention the aspects related to returned drugs authenticity (2 to 3%) but it is also at the level of compliance that benefits are expected, in particular counterfeit drugs, improved visibility, regulatory compliance, better cold-chain shipping & traceability. At the level of clinical studies, benefits would thus be noted on the use of information or even the overall experience. Finally, in terms of inventory management or matching supply and demand.
Join us on November 12th to know more