The pharmaceutical industry in the U.S. struggles to comply with the wide variety of state regulations (proposed and/or in effect) intended to document the chain of custody for drug products. To comply with different requirements from state to state, manufacturers and wholesalers need to make significant investments to implement new processes and systems, often with little or no return on investment.
Meanwhile, regulatory bodies in other regions of the world, such as Europe, have or are planning to adopt product traceability or authentication requirements for pharmaceuticals, further complicating the situation and increasing costs.
Given the challenges of complying with multiple regulations, there is an effort to create a national, electronic track and trace system in the U.S. to standardize the process for all involved. GHX has been asked by some of the major players in the healthcare industry to develop a distributed track and trace information-sharing system that will enable trading partners to both comply with ePedigree/track and trace legislation and potentially derive additional business benefits. By leveraging its existing infrastructure, proven technology, open and neutral governance, and established data access and security model, GHX can accelerate delivery of an industry solution to market in a cost-effective manner. GHX is also exploring the value of delivering similar solutions in other regions where it operates, such as Europe.