SAP has launched a supply chain tracking service based on blockchain that will enable drug wholesalers to authenticate pharmaceutical packaging returned from hospitals and pharmacies.
The Information Collaboration Hub for Life Sciences will initially be used to trace the return of unused drugs to wholesalers, but SAP this week said it plans to expand use of the distributed ledger technology to include a broader range of pharmaceutical supply chain processes.
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There are about 60 million pharmaceutical returns made to U.S. wholesalers annually, worth an estimated $7 billion.
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