Navigation Links
Biotech & BioPharma Professionals: CA Board of Pharmacy Executive, Virginia Herold, to Deliver Keynote at BSMA Annual Biotechnology Conference Oct 8-9

Calabasas, CA (PRWEB) July 31, 2013

The CA E-Pedigree Law will take effect on a staggered basis from January 1, 2015 until July 1, 2017. Enacted to safeguard the state’s prescription drug supply, the law requires all owners and buyers of prescription drugs to append an electronically created and maintained record (or pedigree) to track every sale and purchase as the drug moves through the supply chain from the manufacturer through wholesalers to the pharmacy or physician. Businesses will forfeit revenues in California if they did not comply with the Pedigree Laws in 2015.

Devendra Mishra, Executive Director of BSMA, remarked, “Companies that focus purely on achieving compliance will miss the opportunity to use regulation as a business driver. Although simple E-Pedigree systems are an important first step, significant improvement in the overall supply chain of the biotech industry and public safety would result from a more standardized and automated approach. Such systems with serialization, packaging with printing and vision, data interchanges between trading partners and incorporation of Track and Trace technology, have enormous ROI. BSMA is committed to helping its members in sourcing, procurement, clinical operations, manufacturing, quality assurance, packaging, warehousing, transportation, distribution and regulatory affairs to meet the challenges of complying with the impending law as well as deploying it for greater visibility and accountability.”

A recent research has indicated that “the ability to track and serialize unit level saleable packages (e.g. bottle of 25 pills), not just cases or pallets, can create business value in knowing exactly where their products are purchased can do the following”:
1. “Minimize cost of chargebacks through 100% accurate adjudication. Chargebacks account for 2-15% of gross revenue for a pharmaceutical manufacturer.”
2. “Minimize risk by increasing accuracy in Medicare/Medicaid pricing calculations by fully knowing all fees, rebates, and chargebacks that should be applied to a specific unit sale. Over $4B in fines have been handed down for improperly calculating Medicare/Medicaid pricing.”
3. “Limit liability of having to recall entire lots of product because a (non-serialized) shipment was stolen.”
4. “Achieve visibility for manufacturers in the labyrinth that is the wholesale distribution network to more accurately forecast demand and measure sales and marketing.”

Furthermore, the production of substandard and fake drugs is a vast and under-reported problem, particularly affecting poorer countries. The FDA estimates that fake drugs comprise approximately 10% of the global medicine market. Compounding the problem is the theft and illegal diversion of medical products in the supply chain. Considering the consequent loss of life and the economic incentive for these illegal activities, the justification for Pedigree and Serialization is compelling but it requires the collaboration of all stakeholders of the biopharma industry.

Hear the details in person. Join our supply chain COMMUNITY of thought and practice leaders from the business, professional association and academic sectors to engage information exchange, shared services, and collaboration.

Reserve Your Seat Now! Registration is open. Click on the red Register Now button on the website below.

About BSMA: The Bio Supply Management Alliance (BSMA), which organizes the Conference, was born of the need to create a worldwide community of operations and supply chain management leaders and professionals in the biotech, biopharma, and biomedical device industries. Based in the San Francisco Bay Area, home to more than 400 bio firms, the Alliance provides a forum for collaboration, learning and best practice sharing of practitioners, executives and thought leaders in these uniquely demanding industries.

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related biology technology :

1. Biotech Industry Veteran Joseph Bolen Joins Moderna Therapeutics to be President of Research and Development
2. Biotechnology (BSMA) Conference For Supply Chain Professionals Returns To Foster City, October 8-9, 2013
3. Plant Biotechnology Companies Begin New Conversation about GMOs and How our Food is Grown
4. Nobel Laureate Dr. Oliver Smithies to Deliver Plenary Session at ISPE Biotechnology Symposium
5. Biotech Investment Group Launches Formex, LLC
6. BioTech Companies in the News - Alliqua, Transition Therapeutics, Organovo, MiMedx Group, Keryx Biopharmaceuticals
7. TriMix for Travel Now Available at KRS Global Biotechnology
8. Chief Medical Officer Summit for Biotechs Goes West
9. PROLOR Biotech To Present New Data On Its Long-Acting Human Growth Hormone And Long-Acting Oxyntomodulin At ENDO 2013
10. Zacks Investment Ideas feature highlights: Market Vectors Biotech ETF, iShares Nasdaq Biotechnology ETF, Regeneron, Celgene and First Trust Amex Biotechnology Index Fund
11. Report Shows Biotech Workers Earn the Most in Medical Sales
Post Your Comments:
(Date:10/12/2015)... MARIETTA, Ga. , Oct.12, 2015  MiMedx Group, ... company utilizing human amniotic tissue and patent-protected processes to ... Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic, and ... tam complaint which had been filed against the Company ... Parker H. Petit , Chairman and CEO, stated, "As ...
(Date:10/12/2015)... de octubre de 2015 El 8 de ... un récord en el congreso con su declaración acerca ... International Plasma Awareness Week (IPAW), que se celebrará del ... por la Plasma Protein Therapeutics Association (PPTA) ... , Aumentar la concienciación mundial acerca de la ...
(Date:10/12/2015)... , October 12, 2015 ... print version for enriched online experience --> ... alternative to print version for enriched online experience ... multi media alternative to print version for enriched ... provider of scientific, technical and medical information products and ...
(Date:10/12/2015)... ... 2015 , ... LifeTrak , a leader in consumer fitness, heart rate ... amphibious fitness tracker that seeks to meet the needs of multi-sport athletes. Zoom is ... monitoring both in water and on land, making it the only fitness tracker ...
Breaking Biology Technology:
(Date:10/12/2015)... -- --> --> ... "Digital Security Control Market by Hardware (Smart Card, SIM ... Authentication, Network Surveillance, & Others), Service, Application, and Geography ... is expected to grow at a CAGR of 13.01% ... by 2020. Browse 65 market data Tables ...
(Date:10/12/2015)... 9, 2015 Research and Markets ( ... new report "Biometrics: Market Shares, Strategies, and Forecasts, ... --> --> The study is ... market segment. Research represents a selection from the mountains ... market materials, with selections made by the most senior ...
(Date:10/12/2015)... Oct. 12, 2015 Hoyos ... infrastructure company, will introduce its new biometric ... prints simultaneously, providing an unprecedented level of ... discuss the new biometric standard for secure ... enterprises from financial services to healthcare are ...
Breaking Biology News(10 mins):