Bangalore-based IT firm's ‘code solution' to hit markets soon
In a bid to curb the rampant menace of spurious drugs in the market, a Bangalore-based IT company has come out with a solution to empower consumers check the genuineness of the medicines.
The solution which seeks to link a specific product to the company's data base to verify whether it is genuine will soon hit the market, Rajesh Varrier, CEO of Activecubes told The Hindu . It has offices in the US and Australia and works with the pharmaceutical and other companies in providing business solutions,
Pointing out that a significant per cent of drugs sold in the market in developing countries were spurious despite regulatory mechanisms, a trend acknowledged by the WHO, he said the wider the use of a drug, the greater were its chances of ending up as a counterfeit drug.
He said the solution tracks the drug at the level of a strip/ vial. It involves providing a unique eight character number on every strip/vial. The consumer while buying the medicine would notice a unique code on the strip and would be required to sms the code to the number given on the strip.
“The code is received by our system, it cross checks it in the database and sends a reply on the validity of the drug instantly,” Mr. Varrier explained.
Stating that the counterfeit drug market was estimated at about USD 75 Billion world-wide, he said the menace not only robs the pharmaceutical companies of their revenues, but also puts their brand value and credibility at stake. Besides, there was also the concern of the health hazards posed by such drugs to the consumers.
The problem of spurious drugs was persisting in spite of many regulatory mechanisms, quality standards, random sampling and testing. In addition, major pharma companies provide expensive hologram on the packaging which would not be easy to replicate.
Describing the solution as consumer-friendly, he said Activecubes was in talks with four top pharma companies for integrating their unique code solution right from the manufacturing process.