Ferozsons Laboratories Limited, a pharmaceuticals manufacturer listed on the Karachi Stock Exchange, and ProCheck have announced today that Ferozsons Laboratories will be protecting up to 35 million units of medicine using ProCheck’s serialization/ track & trace solution. In doing so, Ferozsons becomes the first pharmaceutical company in Pakistan to implement serialization.
How does Serialization Help Against Counterfeit Medicines?
Several of the company’s brands will be uniquely coded. Once implemented, patients will be able to find unique codes on every strip of these brands when they purchase them. To verify the authenticity of their product, they would simply need to SMS the code to 9900. More than 50,000 patients will avail the service leading to improved health outcomes.
“Ferozsons is committed to using the latest technology to protect patient safety and help patients achieve their desired clinical outcomes. ProCheck’s treatment adherence solution can be a game changer by driving positive health outcomes through improved compliance in addition to protecting patients from counterfeit products. We are privileged to be the pioneer in using serialization and treatment adherence in Pakistan.” – Osman Khalid Waheed, President of Ferozsons Laboratories Limited
The solution will be integrated at Ferozsons’ production facility. Ferozsons Laboratories chose ProCheck’s technology because of its ability to seamlessly integrate at the production site. ProCheck’s CEO, Saim Siddiqui said, “We are excited to be working with Pakistan’s fastest growing public pharmaceutical company. Ferozsons is aligned with our vision of manufacturers thinking beyond the pill and encouraging positive health outcomes through digital means. Ferozsons’ initiative, one where brand protection is a means to improve compliance, is the future of pharma in the developing world.”
Great news! This can also provide room for collaboration with other healthcare ventures, like http://www.sehat.com.pk
Good but the chances of a startup striking a major deal with a well known company is not realistic. Either Procheck has some family relation with Ferozsons or they won’t be getting paid enough (maybe nothing at all).