Serialized Drug Traceability in the Supply Chain Using Distributed Ledger Technology

Abstract

Currently, Drug Counterfeiting is the biggest challenge facing the pharmaceutical industry. They are encountering this threat due to high market demand for the drugs and their profit margin. The lack of data transparency and traceability also lured criminals into the counterfeiting of drugs which, is impacting people’s health and put their life in danger. Through the drug supply chain, a substantial portion of counterfeit drugs are injected and distributed through the healthcare supply chain network, so the supply chain plays a vital role in drug distribution and impacts patient lives. Through digitalization in the healthcare sector, Distributed Ledger Technology (DLT) provides a platform with ground-breaking results by providing a system for drug traceability with consideration of the critical requirements of transparency, privacy, and authenticity without involving any third party. In DLT, each distribution partner is registered to maintain transparency with the drug information. Real-time transfer of information about the change of ownership with date and time in the form of blocks gives visibility to all the partners in real time about the authenticity of drugs. This article will give information about the benefits of Distributed Ledger Technology to the pharmaceutical industry and the traceability of drugs from end-to-end of the pharmaceutical supply chain.