NITI Aayog signs pact with cloud major Oracle, Apollo Hospitals and global pharmaceutical manufacturer Strides Pharma Sciences to eradicate fake drugs
NITI Aayog, India’s policy think tank, has signed a pact with cloud solutions major Oracle, largest domestic hospital chain Apollo Hospitals and global pharmaceutical manufacturer Strides Pharma Sciences to start a pilot project in order to eradicate the problem of fake drugs in India.
According to a recent report by the World Health Organization (WHO), India is the largest producer of generic drugs in the world and is reported to be the source of 35% of all counterfeit drugs sold worldwide.
NITI Aayog and the companies will pilot a real drug supply chain using blockchain software and internet of things (IoT). This will be a pilot project for three months.
India is the third largest producer of generic drugs and vaccines globally and we’ve been exporting to almost 200 countries. But 20 percent of the drugs being circulated in the Indian market are fake
Oracle’s blockchain software permanently registers a drug’s record in the manufacturer’s drug supply chain (serial number, labelling, scanning), leaving no scope for record tampering. The solution will track drug movement at every point – from manufacturers, transporters, warehouses, distributors, retailers and hospitals to consumers. The IoT platform will also track critical information about the drug such as chemical ingredients of the drug or maintenance of temperature control to ensure that the right conditions have been maintained.
In case of a fake drug, the software will detect irregularity and notify the concerned nodal point. All stakeholders can trace the movement using the mobile app developed by Oracle.
“India is the third largest producer of generic drugs and vaccines globally and we’ve been exporting to almost 200 countries. But 20 percent of the drugs being circulated in the Indian market are fake,” commented Amitabh Kant, CEO, NITI Aayog.
“With Blockchain, every movement of the drug through its supply chain is recorded. That way, the drug supply chain is completely transparent, secure, decentralised and verifiable. We believe Blockchain and IoT can play a significant role in ceasing fake drug distribution,” Kumar added.