- General
- June 16, 2019
- 3 minutes read
FDA Picks Four Companies For Blockchain-Based Drug Tracking
Walmart CEO Doug McMillon image: Walmart The U.S. Food and Drug Administration (FDA) has selected IBM, Walmart, KPMG and pharmaceutical giant…
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| Walmart CEO Doug McMillon
image: Walmart
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The U.S. Food and Drug Administration (FDA) has selected IBM, Walmart, KPMG and pharmaceutical giant Merck to be included in a program focused on leveraging blockchain tech to identify and track prescription drugs and Vaccines distributed within the US. The program is aimed at assisting parties involved in the drug supply chain — including the FDA — in developing an electronic system that will help trace certain prescription drugs and Vaccines distributed within the US.
As part of the program, the four companies will work on a shared blockchain network that allows real-time tracking of products. The network will focus on reducing time needed to track and trace inventory, to make retrieval of distribution information faster.
A pilot program on this is scheduled to be completed in the fourth quarter of this year, with next steps to be taken — by the four companies — evaluated at this point.
