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Pharmaceutical Manufacturing and Packing Sourcer

Serialisation Software

The Falsified Medicines Directive (FMD) deadline of February 2019 is fast approaching for European pharmaceutical manufacturers and their supply chain partners. As the EU Intellectual Property Office discovered in a 2016 study, fake medicines cost the EU pharma industry more than €10 billion in lost revenue and nearly 38,000 lost jobs every year (1). The FMD-mandated measures – which include a unique identifier code and tamper-evident packaging for pharma products – will protect supply chains and help cut down on these losses.

More importantly, the new law provides health and safety benefits. While no definitive findings on the human toll of falsified drugs exist, they are believed to be responsible for 100,000 to 1,000,000 deaths every year, worldwide. Although compliance with FMD is undeniably important, it should not be the only factor driving pharma companies’ serialisation decisions and actions.

Additionally, as more firms integrate Internet of Things technologies into their production and business processes, serialisation presents an opportunity to collect data to create smarter, more efficient supply chains. Pharma manufacturers are realising that they can get a return on their compliance investment by capturing serialisation data and turning them into valuable insights that enhance business operations. Because of this, companies and their partners should be mindful when evaluating and implementing serialisation software to boost visibility, productivity and business optimisation.

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Michael Howe is Chief Executive Officer at Verify Brand. As a pioneer in creating disruptive innovations, he leverages his decades of experience with Fortune 100 companies and other leading brands to help pharma organisations integrate serialisation technology to drive business growth.
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