As the world is moving towards digital transformation, the introduction of various tools is empowering many industries, including Pharmaceuticals and Life Sciences. In fact, the serialization and traceability of items can be improved even further as the world transitions to a digital economy. Currently, traditional approaches for achieving traceability in the Pharmaceutical Supply Chain are frequently centralized and sometimes lack transparency among supply chain participants.
With serialization legislation introduced in two (02) major drug markets, namely, the USA and the EU, the pharma industry is being forced to take action on a large scale. On the other side, people are slowly realizing the benefits that serialization could bring in terms of patient safety and supply chain management. The mandates to serialize drugs are driven in large part by a need to secure supply chains.
In-depth analyses will highlight how pharmaceutical packaging, labeling, serialization, tracking, and traceability enhance consumer safety and transparency in the supply chain, as well as benefit pharmaceutical packaging that go beyond compliance with laws.
Under the scope of meeting the new Falsified Medicines Directive requirements, the EMA and EC have come up with an implementation plan which introduced two new safety features to be added on the packaging of drugs by 9 February 2019. However the manufacturers based out of Greece, Belgium and Italy have an extended timeline till 9 February 2025 in order to implement the serialization guidelines as they already feature similar requirements on their current drug packages.