Report includes data from 660 respondents in the pharmaceutical supply chain, revealing disparity in industry’s readiness to comply with track and trace regulations in the US and EU
TraceLink, the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today unveiled the second annual Global Drug Supply, Safety and Traceability report, including results from 660 respondents across the pharmaceutical supply chain – the largest survey ever conducted on pharmaceutical track and trace.
The report highlights a massive gap in industry readiness for drug serialisation, with only one-third of respondents stating that they are “very prepared” to comply with serialisation deadlines in the US and EU. The in-depth analysis also reports that not one survey respondent has completed all of the fundamental steps for serialisation compliance.
Key Findings From the Global Drug Supply, Safety and Traceability Report include:
“This year, serialization becomes a true reality for many pharmaceutical companies. As the leader in the market, we feel that TraceLink has a responsibility to provide insight into the state of serialization as it stands today, by leveraging our unique ability to reach the entire supply chain, from end-to-end, through our 266,000+ trade partner network,” said Shabbir Dahod, President and CEO of TraceLink.
“These survey results are startling. Despite goodwill efforts by industry and regulators to meet compliance on time, the industry is extremely behind in being ready for serialization. In 2018, as we reach the final hours of serialization in both the US and EU, the industry-wide lag in full serialization implementations remains a concern and emphasizes the criticality of trade partner connectivity within the supply chain.”
TraceLink partnered with independent research firm, Penn Schoen Berland, to conduct the survey and produce the report analysis.
The 65-page Global Drug Supply, Safety and Traceability Report can be downloaded. The full report includes global serialisation readiness results, as well as industry-wide insights on differing preparation timelines between EU FMD and DSCSA, disparities between pharmaceutical companies and CMOs, and how all companies across the supply chain are managing network connectivity, data exchange and aggregation.
The report also includes a preview into the highest value-added benefits companies are looking to leverage from their serialisation data.