Updated By: LatestGKGS Desk
NITI Aayog & Oracle signed SoI for collaboration against counterfeit drugs in India
NITI Aayog & Oracle signed SoI for collaboration against counterfeit drugs in India: Details, Aim, Purpose, Benefits
NITI Aayog has singed Statement of Intent (SoI) with Oracle to pilot real drug supply-chain using blockchain distributed ledger and Internet of Things (IoT) software to fight growing problem of counterfeit drugs in India.
Strides Pharma Sciences and Apollo Hospitals will partner in this effort. Oracle is US multinational computer technology corporation that specializes primarily in developing and marketing database software and technology, cloud engineered systems, and enterprise software products.
In India, the problem of fake and counterfeit drugs is a major issue, costing Indian pharma industry billions. At the same time, it is also putting patients at higher risk.
This NITI Aayog's agreement with Oracle will help ensure that Indian drug manufacturers and healthcare experts have access to standards-based, modern technology platform – blockchain and Internet of Things (IoT) to help eliminate fake drug distribution.
