MSD
Another key element of MSD ' s digital journey is the use of blockchain technology . " Imagine a future where we digitally connect to our external partners ," Brut says . " We are looking at how we can utilise blockchain technology to build an external digital superhighway that will gather and provide information , even make decisions based on algorithms built into the blockchain . For MSD , blockchain is a game-changer ."
Blockchain is a team effort , Migliari says , and for this purpose , MSD is part of a research and innovation consortium called PharmaLedger where the company has heavily invested to build the collaboration and network with 11 pharmaceutical companies and 17 other entities , including patient representative organisations , research , and academic organisations . It is a three year expedited co-creation effort between the industry and healthcare stakeholders . The project is sponsored by the pharma industry – EFPIA and the EU Commission with a total EUR 22 million funding .
Industry collaboration is the key success factor in the journey to unleash the power and potential of blockchain technology . MSD has been championing this challenge with the creation of a Global Blockchain Consensus Board . The forum , which has so far brought together 14 of the biggest pharmaceutical companies in the world to facilitate progress in blockchain adoption , has no cost , is open to all industry members to join and operates under a legal framework and anti-trust compliance .
" In terms of the ecosystem we have to engage in mindful supply chain partnerships ," says Brut . " For instance , MSD is also partnering with wholesalers , distribution partners and clinics in Asia Pacific and Canada to seek rapid customer integration , demonstrate the benefits achieved , and meet the transformation agendas of governments while leveraging the digital twin and blockchain capabilities .”
If we talk about applications on top of blockchain-enabled networks , our goal is expand our business case portfolio and the deployment of solutions under major capability areas , such as product traceability and anti-counterfeiting ; eLeaflet ; inventory visibility ; and auto-order management , Testing on Importation among other possibilities at the supply chain domain . In clinical trials we explore eRecruitment , eConsent , IoT use in trials and more through the consortium .
Geography is equally important , as it can dictate the partnerships , choice of network , with the most useful applications ( i . e . anticounterfeiting in emerging markets and eLeaflet for paperless markets ).
www . msd . com 15