In an impressive and welcomed global trend, many governments around the world recently decided to pass pharmaceutical serialization-related regulations, requiring drug manufacturers to assign and apply unique verifiable number, to be randomly created through the packaging process, to each individual drug package circulating on their market. Such measures, implemented in different ways according to the countries, have been adopted with a view to tackling worldwide issues such as combatting counterfeiting and related health risks for patients as well as social security fraud. Let’s see what legal framework this refers to and how to possibly transform this into opportunities to create value.
CordenPharma’s newly appointed CEO & President, Dr. Michael Quirmbach, discusses the history and strategy of CordenPharma’s formation by ICIG, the future of CordenPharma, as well as a broad range of strengths & technical capabilities in both API & Drug Product manufacturing. He particularly focuses on the key areas of Highly Potent & Oncology APIs & DrugProducts, Injectable Drug Products and small to large-scale Peptide manufacturing. He then highlights CordenPharma’s unique full-service supply chain offering, which brings clear benefits to customers in the pharma industry.
Under pressure from public opinion, Congress and the White House, more than sixty pharmaceutical firms in the United States are limiting their semi-annual increases in official prices on hundreds
of drugs for the moment. According to the American press, quoting consultancy firms
specializing in healthcare pricing analysis, the average price hike at the beginning of 2020 is 5.8%. The increases of 10% and over that were often seen until 2018 have become politically unacceptable.
Nevertheless the increases remain marked enough to encourage the activists urging Congress to control prices directly. Donald Trump at any rate has restrained his anger as this year begins.
Biopharmaceutical companies face increased challenges when developing drugs: molecules are more complicated; timelines are reduced; resources are more limited; and patient populations for therapies are becoming smaller.
Drug development takes time, and individual scientists can rarely see through many programmes during a career. So, for the industry to progress, it must be recognized that experience can be acquired, and by not relying solely on internal development teams, innovators can quickly gain access to deep expertise in certain areas by working collaboratively with CDMOs and development partners
What is the reality of blockchain in the pharmaceutical industry? The tangible repercussions of blockchain, i.e.the decentralized ledger system copied and stored onmultiple nodes across the networks, now go far beyondthe Bitcoin (the cryptocurrency that gave rise to it) andare increasingly impacting all spheres of the economy.
The blockchain phenomenon has already started growing in the pharmaceutical industry through various R&D initiatives. However, blockchain also comes with technical and legal challenges that shall be primarily addressed as a condition to its development.