IBM, KPMG, Merck and Walmart to collaborate as part of FDA's program to evaluate the use of blockchain to protect pharmaceutical product integrity
ARMONK, N.Y., NEW YORK, KENILWORTH, N.J., and BENTONVILLE, Ark., June 13, 2019 /PRNewswire/ -- IBM (NYSE: IBM), KPMG, Merck (MRK), and Walmart (WMT) today announced that the companies have been selected by the United States Food and Drug Administration (FDA) to be included in a program in support of the U.S. Drug Supply Chain Security Act (DSCSA) that addresses requirements to identify, track and trace prescription medicines and vaccines distributed within the United States. The proposed network is intended to help reduce the time needed to track and trace inventory; allow timely retrieval of reliable distribution information; increase accuracy of data shared among network members; and help determine the integrity of products in the distribution chain, including whether products are kept at the correct temperature. "We believe this is an ideal use for the technology because it can not only provide an audit trail that tracks drugs within the supply chain; it can track who has shared data and with whom, without revealing the data itself. Blockchain has the potential to transform how pharmaceutical data is controlled, managed, shared and acted upon throughout the lifetime history of a drug." IBM, KPMG, and Walmart, the largest retailer in the U.S., have extensive experience in implementing blockchain solutions to help enhance the safety and traceability of products.