Verizon Joins Forces With rfXcel to Protect Pharmaceutical Supply Chain
May 19 2016 - 6:00AM
Business Wire
Verizon Intelligent Track and Trace solution leverages the
rfXcel Traceability System platform to provide product traceability
and real-time monitoring
Verizon and rfXcel have joined forces to deliver the newly
available Verizon Intelligent Track and Trace solution, which helps
monitor and trace pharmaceutical products in the supply chain and
improve overall patient safety.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160519005221/en/
Leveraging Verizon’s Internet of Things platform ‘ThingSpace’
and its world-class network, the rfXcel Traceability System
platform enables pharmaceutical manufacturers to provide real-time
monitoring of product temperatures, location and other key product
attributes anywhere along the pharmaceutical supply chain. Verizon
Intelligent Track and Trace can also create, manage, allocate and
store large volumes of individual and hierarchical serial numbers
to provide visibility and control and help detect counterfeit drugs
more easily.
Verizon’s Intelligent Track and Trace solution will help address
some of the pharmaceutical industry’s biggest issues, such as
theft, channel diversion, counterfeiting and safe handling. The
World Health Organization estimates 10 to 15 percent of the world’s
drug supply is counterfeit, with counterfeit drugs in the US
approximately 1 percent and in some countries, the estimate is as
high as 50 percent. According to American Health & Drug
Benefits, the value of the counterfeit drug market is $75 billion
annually, leading to more than 100,000 patient deaths.
The solution delivers a host of benefits to pharmaceutical and
healthcare clients, including:
- Supply chain management: This
IoT technology gives users the ability to monitor, trace and
serialize product hierarchies, by pallet, case or individual
unit.
- Improve patient safety:
Attributes such as temperature, light, location, shock and other
key attributes can be monitored in real-time and provide valuable
alerts if any attribute changes through the course of the supply
chain.
- Facilitate compliance with
government regulations: Verizon Intelligent Track and Trace
will provide information that when managed by customer’s compliance
organization will relate to compliance with government regulations
such as the US Drug Supply Chain Security Act (DSCSA).
The Verizon Intelligent Track and Trace cloud-based system is
now commercially available and already includes some of the top
global pharmaceutical manufacturers as pilot customers.
“The partnership between Verizon and rfXcel delivers tight
integration between our products and leverages the vast Verizon
network to provide unique benefits and real-time monitoring of
product to secure the pharmaceutical supply chain,” said Glenn
Abood, Chairman and CEO of rfXcel. “We’re both committed to making
the drug supply chain safer and more secure for patients.”
“Our Intelligent Track and Trace solution is yet another example
of IoT technology at work to solve real-world issues in a
simplified way for customers,” added Tom Villa, Director of Product
Development at Verizon. “The rfXcel platform seamlessly addresses
the current and impending needs of pharmaceutical industry.”
Beyond healthcare, Intelligent Track and Trace technology can be
applied to the serialization of virtually any asset, allowing any
business with an asset to track to benefit.
About rfXcel
rfXcel Corporation, headquartered in San Ramon, CA, is a pioneer
in creating Product Serialization, Traceability and Compliance
private cloud solutions for the Life Sciences industry. Leading
manufacturers, distributors, packagers, dispensers and retailers
leverage rfXcel solutions to meet global government regulations,
track and trace product throughout supply chains, and enhance
patient safety.
For more information, please visit www.rfxcel.com.
About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in
New York City, generated nearly $132 billion in 2015 revenues.
Verizon operates America’s most reliable wireless network, with
112.6 million retail connections nationwide. The company also
provides communications and entertainment services over America’s
most advanced fiber-optic network, and delivers integrated business
solutions to customers worldwide.
Verizon Enterprise Solutions helps clients improve customer
experience, drive growth and business performance and manage risk.
With industry-specific solutions provided over the company's secure
mobility, cloud, strategic networking, Internet of Things and
advanced communications platforms, Verizon Enterprise Solutions
helps open new opportunities around the world for innovation,
investment and business transformation.
For more information, please
visit www.verizonenterprise.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160519005221/en/
For rfXcel:Jim Smiley,
925-395-6867jsmiley@rfxcel.comorFor
Verizon:Adria Tomaszewski,
908-809-2382Adria.tomaszewski@verizonwireless.comTwitter:
@ adriatomasz
Verizon Communications (NYSE:VZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Verizon Communications (NYSE:VZ)
Historical Stock Chart
From Apr 2023 to Apr 2024