Worldwide sales of counterfeit medications could top $75 billion this year. This is a 90% rise in five years according to an estimate published by the Center for Medicine in the Public Interest of the United States of America.
This influx of counterfeit medicines into the marketplace poses huge risks to consumers. That’s why VeriTrace has created security solutions to combat this threat.
• Fake Drugs are made cheaply and are highly profitable.
• Many developing countries around the world lack regulation and enforcement.
• Risk of prosecution in both industrialized and developing countries is insufficient.
• Consumers assume the pharmaceutical supply chain is safe.
The World Health Organization (WHO) estimates that 30% of all medicines sold in some areas of Asia are fake. This poses a huge threat for consumers in Asian markets. Lack of consumer education is one concern.
VeriTrace’s secure labels offer pharmaceutical companies a solution that protects revenue stream and prevents business interruption. We create secure label solutions that are easy to verify, including for the consumer. This protects a product’s legitimacy and maintains consumer confidence.
Track and Trace is the process of marking individual units with unique serial numbers and tracking them from origin to final destination. Units can be aggregated to pallets and shipments and reassigned anywhere in the supply chain, providing full visibility and security. The coding methodology is flexible, utilizing QR or 2D barcodes, NFC, RFID, etc., or any combination of technologies.
TO LEARN MORE ABOUT OUR SECURE PRINT SOLUTIONS FOR the pharmaceutical and healthcare industries, PLEASE CALL 513.202.0790 OR EMAIL SALES@VERITRACE.COM
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