Leading US Drug Companies Join Blockchain Project – Details
McKesson Corporation, AmerisourceBergen Corporation, Premier Inc. and Pfizer Inc. have joined the MediLedger Project Contracting and Chargebacks working group to build a blockchain network for the health and pharmaceutical industry.
MediLedger which is an initiative of San Francisco-based blockchain tech company Chronicled Inc. is designed to reduce costs and make processes more efficient in data sharing by developing a common network. The solution will purportedly automate the contract reconciliation and chargeback processes.
The network has already succeeded in establishing a protocol for saleable return drug verification which is compliant with current 2019 Drug Supply Chain Security Act regulations. Participants’ data will purportedly be shared only with the trading partners they specifically choose, as the platform does not provide a central repository of all data.
Chronicled CTO Maurizio Greco, commenting on the cooperation said: “we can design [the blockchain system] so only the license holder can create records for its own products, for example. This may seem like a simple illustration, but it is revolutionary.”