Tjoapack and Veratrak launch first live blockchain tool

Secure data sharing across the pharmaceutical industry.

The partnership will include a number of projects that focus on using the properties of blockchain to enable transparent collaboration across multiple pharmaceutical supply chain partners, reducing service lead times, and driving information sharing through a secure digital chain.

The first project, which is due to be rolled out in Q4 2018, will secure and optimise the data sharing processes involved in setting up stock keeping units (SKUs) ready for packaging from product master data to artwork.

Blockchain allows data to be stored as part of an immutable ledger assuring that it cannot be altered or tampered with. Veratrak’s new document collaboration platform uses blockchain technology to allow secure data sharing across the pharmaceutical industry.

Dexter Tjoa, Director Corporate Strategy, Tjoapack said: “This kind of technology will be invaluable when it comes to securing the pharmaceutical supply chain.

“Blockchain is already being explored as a solution to support track and trace programmes which follow physical goods through the supply chain. It could also have huge benefits when it comes to improving data transparency through secure audit logs that are accessible for multiple parties. A tool like the one we’re working on with Veratrak will make collaboration across different companies easier, making the supply chain much more efficient.

“We’re impressed with Veratrak, and are very much looking forward to working closely with their team. Hopefully this will be the first of many projects we collaborate on.”

To date, blockchain technology has been explored by pharmaceutical companies through either proof of concepts (POC) or pilot projects. Veratrak has been built according to GAMP5 guidelines and is compliant with FDA part 11 regulations, making it the first global application of blockchain in a GxP environment working with multiple organisations in the supply chain.

Tjoapack will be the first user of the platform and will use its pharmaceutical expertise to ensure the Veratrak system is tailored to the industry’s challenges and that the solution is tested by an experienced supply chain partner.

Jason Lacombe, CEO, Veratrak said: ”We’re delighted to be working with Tjoapack. We share many of the same values as an organisation, and we're impressed with their forward-thinking mindset. Their committment to contiuously developing and implementing innovative ideas that will improve the supply chain make them an ideal partner for this project.

“Efficient pharmaceutical supply chains are essential for delivering high quality and cost effective healthcare, and this is something that we are both working towards. We hope this will be the start of a successful long-term relationship. Through this partnership, we are building the pharmaceutical supply chain of the future.”