The distribution of fake medicines in the market spoils the brand image of pharma companies and leads to reduced sales. Continuous and unchecked counterfeiting of medicines can destroy pharma manufacturers and, more importantly, risk human lives.
Counterfeit medicines are rampant in Indian pharmaceutical marketplaces. Knockoffs of branded medicine can be found anywhere—from government pharmacies to big pharma stores and local drug outlets.
Problem of counterfeit medicines in India
According to a 2015 report by ASSOCHAM, 25% of medicines sold in India are either fake or of inferior quality. To quote a WHO report: “About 10.5% of medicines sold in low and middle-income countries, including India, are substandard and falsified.”
As one of the largest exporters of generic drugs and vaccines in the world, the Indian pharma industry accounts for every third dose of vaccine administered anywhere. Owing to concerns over bad reputation caused by the rampancy of fake medicines, the Indian government National Informatics Centre designed the Drug Authentication and Verification Application (DAVA) based on GS1 standards.
GS1-track & trace
GS1 standards make it possible to uniquely identify, capture and share important information on exported pharmaceuticals with regulators and patients, thereby further strengthening India’s reputation as a leading producer of quality and safe drugs.
Benefits of GS1 track and trace for pharma companies
Real-time information to authorities and patients
Provide real-time information to authorities and patients of pharmaceuticals manufactured in India.
Quick inspection of consignments
Pharma companies often face the challenge of slow movement through customs, both in India and abroad. Ensuring that your products are GS1-compliant will facilitate faster movement through customs by making it easy to scan barcodes and validating the data in DAVA.
Accuracy in dispatch processes
GS1 track and trace helps in efficient and automated FIFO (first in, first out) management and increases the accuracy of dispatch processes.
Competitive edge in the global market
Complying with the global and national regulations will provide Indian pharmaceutical manufacturers with a competitive edge in international markets.
International standing as a safe producer
Using GS1 standard track and trace will strengthen the international community’s confidence in India as a safe manufacturer of pharmaceuticals.
GS1 compliance will empower end-consumers to authenticate the final product and evaluate safety risks associated with counterfeits. As data becomes more complex, GS1 compliance allows pharma companies to ensure their global supply chain is easy to manage, accurate and reliable.
Holostik provides track and trace services to pharma companies in compliance with DAVA and GS1 standards to enhance supply chain visibility and efficiency.