The National Association of Boards of Pharmacy (NABP) has announced its acquisition of the MediLedger Product Verification System (PVS) from Chronicled, Inc. This acquisition will enable the NABP to conduct product verification, in accordance with the Drug Supply Chain Security Act (DSCSA), for use in its new digital platform called Pulse by NABP.
Chronicled launched the PVS in 2019, leveraging blockchain technology to improve accuracy, efficiency, and alignment in the life sciences industry. The PVS has been instrumental in helping members of the supply chain comply with DSCSA, and it will continue to play a vital role when Pulse launches later this year.
Pulse is designed to connect regulators and supply chain members, simplifying DSCSA compliance. The PVS will be offered as a cost-effective solution for manufacturers, distributors, and solution providers, serving as a global trade item directory for saleable-returns verification. The NABP also plans to expand access to verification tools for state regulators and dispensers to bolster supply chain safety.
Vinod Lakhani, CEO of Chronicled, expressed excitement about the transition of the PVS to NABP, noting that it will take the platform to new heights in terms of patient safety. By focusing on enhancing and scaling their Contracts & Chargebacks solution on the MediLedger Network, Chronicled aims to better serve their customers.
The NABP believes that integrating the PVS seamlessly into Pulse will provide state regulators and supply chain members with the tools they need to protect patients from counterfeit medications. The organization sees this acquisition as an opportunity to further its mission of safeguarding public health.
The MediLedger Network is a blockchain-powered network within the life sciences industry, and Chronicled’s role is to administer and build solutions on top of it. More information about the network can be found on Chronicled’s website.
Pulse by NABP is an inclusive and accessible digital platform that simplifies DSCSA compliance. It provides access to user-friendly tools and a comprehensive network of trusted partners across the supply chain.
NABP, an independent and impartial association, is dedicated to protecting public health through its assistance to member boards.