Tracing drugs from discovery to disposal
Hossein Omidian1, Jafar Razmara2, Sepideh Parvizpour3
1Department of Pharmaceutical Sciences, College of Pharmacy, Nova Southeastern University, Fort Lauderdale, FL, USA.
Drug Discovery Today
|February 24, 2023
Summary
Blockchain technology can enhance drug lifecycle management by improving transparency and traceability. This technology offers solutions for secure and efficient transactions across the pharmaceutical supply chain, addressing key industry challenges.
Area of Science:
- Pharmaceutical Sciences
- Computer Science
- Supply Chain Management
Background:
- The drug lifecycle involves numerous stakeholders, including discovery companies, manufacturers, regulators, and healthcare providers.
- Effective and safe transactions within the drug lifecycle depend critically on transparency, traceability, automation, and data security.
- Current technological adoptions are hindered by challenges such as scalability, energy consumption, complex regulations, and standardization issues.
Purpose of the Study:
- To explore the potential of blockchain technology in optimizing the pharmaceutical drug lifecycle.
- To identify how blockchain can address critical factors like transparency, traceability, automation, and data security.
- To examine the impact of blockchain on the efficiency and safety of pharmaceutical development and supply chain operations.
Main Methods:
- Literature review of blockchain applications in supply chain management.
- Analysis of blockchain's technical capabilities in relation to pharmaceutical industry requirements.
- Case study examination of blockchain's potential role in drug discovery and development processes.
Main Results:
- Blockchain technology offers a robust framework for enhancing transparency and traceability throughout the drug lifecycle.
- Implementation of blockchain can significantly improve data security and automate complex transactions among diverse stakeholders.
- The technology has the potential to accelerate pharmaceutical development and streamline supply chain operations.
Conclusions:
- Blockchain technology presents a viable solution to improve efficiency, security, and transparency in the pharmaceutical drug lifecycle.
- Addressing challenges related to scalability and regulation is crucial for widespread blockchain adoption in the pharmaceutical sector.
- Further research and pilot programs are recommended to fully realize the benefits of blockchain in pharmaceutical development and distribution.
Keywords:
blockchaindrug developmentdrug discoverydrug disposaldrug distributiondrug manufacturingdrug useMore Related Videos
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