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Every pharmaceutical Track & Trace solution for existing systems must be customized to meet specific product line requirements, such as available space and packaging type. Out-of-the-box solutions quickly reach their limits.
Prescription drugs sold in retail pharmacies accounted for almost $325 billion or 10% of total healthcare costs in 2015, up 9% from 2014. Such dramatic growth has prompted calls for government intervention to regulate drug prices or otherwise control their rapid increase.
There is hardly another product that reaches consumers or patients for which packaging requirements are as varied as for pharmaceutical products.
The Pharma industry is passing through a turbulent phase, the industry has been witnessing a drastic dip in R&D productivity and revenue streams are under threat from near expired drug patents. In the near future there is an estimated loss of US $ 16 billion of revenue of marketed products.
Biosimilars are biologic medicines that are highly similar to existing licensed biologic products with no clinically meaningful differences in the terms of safety and efficacy.