AsliMedicine, a blockchain based pharma solution by Zoreum is a bandwagon platform which is innovative in Indian perspective to track the medicines. It has taken a pledge to flag the spurious medicines and all the stakeholders involved with them. The noble initiative has stirred the small pharma manufacturers because such participants are the weakest link in the pharma industry when it comes to authenticity and compliance. Such fake actors have to pack their bags and leave once AsliMedicine would be in action.
Facts on Indian Pharma Industry
Counterfeited medicines are fake drug. Such medicines are contaminated with a substandard formulation, or miss the active ingredients or contain wrong proportions of the chemical formulae. Such medicines are both illegal and harmful to health.
Due to the skilled scientists and cheap manufacturing cost, India is a large provider of generic drugs at the global level sharing almost a whopping 50% of the total supply. ASSOCHAM claimed that 25% of the drugs in India are fake or of substandard quality. At the global level, 15% of the medicines are imitated.
Reports have proved that the fake drugs cost 1 million lives every year globally with Africa and major parts of Asia being the worst hit. China and India account to be the major players in this medicine business. The alarming facts about fake medicines in India showed that this sloppy trade is an ever-growing market in India. The areas that are the shop floors are the areas like NCR, Haryana, UP, Gujarat, and Punjab.
Why AsliMedicine.com is hated by small formulation manufacturers?
With the help of AsliMedicine DApp (Decentralized application working on a peer-to-peer network), a customer can scan the QR code of the medicine. App is downloadable from google and apple play stores in one click. If the record is not found, the system will declare the medicine counterfeited. Or, users can send a message from their registered mobile number to find the provenance of the drugs. Such reports against fake medicines will help to flag the malicious supplier, manufactures, retailers or even distributors in the chain who defy the regulations and play with many lives.
The customer reporting the fake case would be able to earn rewards in the system too. The DApp would inform the concerned authority about the medicine not available in the AsliMedicine records. This will motivate the customers to be enthusiastic while being diligent too.
Apart from abating the nasty links in the supply chain of the pharmaceutical industry in India, the DApp — powered by AI and permissioned blockchain — will only allow the righteous participants and branded medicines into the channels to register and use the regulated system. Participants will have to input the complete information about their supplies. The data will cover date, time, stock ID, batch ID, quantity, manufacturing location, and expiry date of raw materials and products.
Combatting and removing the propagation of false drugs and involved parties who inject false medicines into the network of pharma is a pressing need. AsliMedicine has created a fear among the untrustworthy stakeholders in the supply chain business of the drugs. Through blockchain, not only the transparency will prevail, but will also reduce the intermediate costs involved in the supply chain.
If you are a participant in the pharmaceutical business, please contact AsliMedicine to get in touch for more information and get yourself registered in the DApp. Let us make a promise towards making India, a trusted nation in medicines.