Walmart partners with MediLedger to track pharmaceutical supplies
Category: #headlines  By Mateen Dalal  Date: 2019-06-04
  • share
  • Twitter
  • Facebook
  • LinkedIn

Walmart partners with MediLedger to track pharmaceutical supplies

MediLedger is preparing to launch its pilot alongside the U.S. FDA to try and reach the 2023 target to deliver a digitized system for tracking and verifying prescription drugs.

Global retail giant, Walmart Inc. is reportedly expanding its blockchain reach by teaming with MediLedger consortium that builds blockchain solution for tracking the provenance of pharmaceuticals. According to reports, the move would mark Walmart's second blockchain initiative as the company has participated in IBM’s Food Trust.

Sources suggest that the consortium will boost MediLedger as well, whose members already include pharma players like Pfizer and major wholesalers namely AmerisourceBergen, McKesson and Cardinal Health.

Moreover, the move will further act as a boost to the pharmaceutical industry, as the U.S. FDA (Food and Drug Administration) has been mandated to deliver an interoperable, digitized system for verifying and tracking of prescription drugs by 2023.

According to Walmart’s annual report, revenues from its pharmaceutical section (‘Health and Wellness’), which includes the sale of pharmaceuticals and over-the-counter drugs, constituted for $35 billion in sales in the fiscal year, representing 10% of the firm’s total revenue.

Whereas, in June 2019, MediLedger is preparing to launch its pilot alongside the FDA to try and reach the 2023 target with partner (Walmart) to meet this mandate and lead blockchain to the pharmaceutical-tracking world.

Sources cite that the joint efforts between MediLedger and the U.S. FDA, under the government mandate to develop a decentralized system, could be significant as the agency needs to launch a system that tracks and verifies drugs by 2023. The company is also presently testing several options, including some that include blockchain technology.

Though, unlike government-operated systems, the U.S. privatized healthcare system is segmented, making the implementation of a centralized system difficult, and a decentralized blockchain solution linking multiple siloed databases to be more advantageous.

For the record, MediLedger’s entry into the market was based on the verification of drugs that are returned to be resold. However, with the expansion and growth of the consortium, the company can start work on the tracking of all pharmaceutical products, guaranteeing interoperable data and packaging serialization.

Source Credit: https://www.forbes.com/sites/darrynpollock/2019/06/03/walmart-adds-another-blockchain-string-to-its-bow-joins-pharmaceutical-tracking-consortium/#573d51136824

https://finance.yahoo.com/news/walmart-joins-mediledger-blockchain-consortium-132251684.html

 

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

MoA Technology targets herbicide resistance crisis & raises $8 million
MoA Technology targets herbicide resistance crisis & raises $8 million
By Mateen Dalal

MoA Technology has created three platforms: MoA SELECTTM, MoA TARGETTM and MoA GALAXYTM, which would work together for effective herbicide creation.   MoA Technology is borne out of Oxford University research is aimed at inhibiting herbicide...

Trump refuses to forge deals with Huawei citing national security
Trump refuses to forge deals with Huawei citing national security
By Mateen Dalal

Donald Trump declares the business with Huawei as a national threat and hence forth has declined all the business opportunities with the company.   The existing contract of the Commerce Department is expected to end sooner. The United Stat...

Trovagene to unveil key study data at APAC Prostate Cancer Conference
Trovagene to unveil key study data at APAC Prostate Cancer Conference
By Mateen Dalal

Data from the Phase 2 Onvansertib clinical trial will be presented at the 20th Prostate Cancer Conference.   The trial assesses the efficacies of Onvansertib on patients with Metastatic Castration-Resistant Prostate Cancer. Trovagene, a cl...