NITI Aayog has teamed up with Oracle, Apollo Hospitals and Strides Pharma to track drug supply chain using blockchain and IoT solutions to combat counterfeit drugs.
Amitabh Kant, CEO, NITI Aayog, “the problem of fake and counterfeit drugs is a major issue, costing the Indian pharma industry billions. At the same time, it’s putting patients at higher risk. This agreement with Oracle and our partnership with Apollo Hospitals and Strides Pharma, will help ensure that Indian drug manufacturers and healthcare experts have access to a standards-based, modern technology platform – blockchain and IoT, to help eliminate fake drug distribution.”
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. From here on, at every point of hand change, it records the drug’s movement – from manufacturer to logistics, from stockist to hospital, or from pharmacy to consumer. In case of a fake drug, the software will detect irregularity and notify the concerned nodal point. Besides, Oracle IoT will provide options to track critical information such as chemical ingredients of the drug or maintenance of temperature control in case of life saving drugs or vaccines.