In developing countries, (and here too) counterfeit drugs are a mega-big problem. Essentially fraudulently labeled drugs in the supply chain are often not what they say they are, with potentially devastating consequences. But there’s no really easy way for companies to monitor their supply chain. We ran into PharmaSecure as they were getting off the ground last year, and yesterday I met CEO Sarah Hine who showed me how their technology allows the consumer to directly connect with the manufacturer using SMS.
A very innovative use of technology and a very interesting brief interview (complete with demo!). They’ve also just raised a $2m series A round.
I have seen this service mentioned several times in different places but never an explanation of how they prevent counterfeiters from just copying their codes onto the counterfeit drugs. If I were to counterfeit drugs and packaging, I would also copy the codes and thereby be able to gain ‘certification’.
Is there any security built into this?
Good stuff, hopefully it will really help reduce the drug counterfeiting. Looks like at least someone is on top of the issue.
There is a company already doing this named Sproxil. I’ve seen their products in Nigeria and it’s pretty neat.
they are doing a fantastic job. i like there work thanks for sharing this with us…