31 Oct Three Insights from CPhI Worldwide
Last week, the Verify Brand team was at CPhI Worldwide in Frankfurt Germany. This conference brought together over 42,000 pharma professionals from 153 countries to discuss pharma trends, products, and solutions. Throughout the conference, our team of serialization experts, Haris Kamal, Ian Miller, Bill Romano, Dhermita Desai and Taylor Burns, met with pharma companies and discussed how Verify Brand’s best-in-class serialization solution can help companies reach global compliance mandates, such as European Falsified Medicines Directive (EU FMD) and the Drug Supply Chain Security Act (DSCSA).
Couldn’t make it to the conference? Here are our three key takeaways:
Takeaway 1: Roughly 50 percent of pharma companies we talked to are still in search of a serialization software provider for EU FMD.
When people came up to our booth, we noticed that every company was in a different stage of serialization readiness. Some had already selected a provider where others were still in the vetting stage. For the roughly 50 percent of companies who are still searching for a L4-L5 serialization software provider, it’s important to take the time to fully evaluate the systems and technologies that will not only ensure compliance, but will guarantee a rapid and seamless implementation process. Verify Brand’s proven software and SWIFT implementation framework assure that you check the compliance box and have a serialization project without any speed bumps. Plus, our software delivers so much more – a deep dive into the rich data serialization provides with our analytics module that providers insights that create a smarter supply chain to drive your business forward.
Learn more about what sets Verify Brand apart here.
Takeaway 2: Many pharma companies still have questions about EU FMD.
Although CPhI is a global conference, EU FMD was a hot topic. Many companies who need to meet EU FMD regulations came to our booth with questions about the directive– from high-level questions about the deadline date to deeper questions regarding connectivity, aggregation and the overall implementation process. Some of the most common questions people asked us are listed below:
- Do I have to aggregate?
- If I’m selling into the EU, do I need to comply?
- What type of code goes onto the prescription?
- Do you think the deadline will get extended?
Takeaway 3: Many pharma companies are budgeting for serialization and are concerned about costs.
One of the biggest concerns that people brought to our attention about serialization was the large price tag. Although serialization is a large expense, it’s necessary to comply with the law. We believe in providing our customers with the best ROI by not only helping them reach compliance, but providing them with analytics that turn that their serialization data into business-transforming insights. When it comes to cost, unlike our competitors, Verify Brand is completely transparent in our pricing. Customers using Verify Brand’s solution incur no hardware/infrastructure, IT personnel, maintenance, or storage costs whatsoever. Learn more about Verify Brand’s costing structure here.
Weren’t able to meet us at CPhI Worldwide? Contact us here to ask us your serialization and EU FMD questions, or schedule a demo with our sales team to see our best-in-class serialization platform in action.