IBM and Golden State Medical Supply Create Drug Safety Model to Help Combat Coun... ( Electronic Pedigree Services Enable S...)

IBM and Golden State Medical Supply Create Drug Safety Model to Help Combat Counterfeiting

Date:4/24/2009

Electronic Pedigree Services Enable Small and Mid-Sized Drug Companies to Adopt "Smart" Drug Safety Technology

ARMONK, N.Y. and CAMARILLO, Calif., April 24 /PRNewswire-FirstCall/ -- IBM (NYSE: IBM) and contract manufacturer and third party logistics provider Golden State Medical Supply (GSMS) today announced the two companies have worked together to help drug companies comply with stringent prescription drug pedigree regulations in advance of state and federal mandates.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

Global counterfeit drug sales will grow at almost twice the rate of legitimate pharmaceutical commerce by 2010 according to estimates from the Center for Medicine in the Public Interest. The organization predicts that the counterfeiting business will generate $75 billion in revenues in 2010 - a 92 percent increase from 2005. California has lead the nation with landmark prescription drug regulations which aim to protect California consumers from these potentially lethal drugs.

Using IBM technology, GSMS is now able to act in accordance with California's law which take effect in 2015, as well as new electronic pedigree regulations that are emerging in other states and countries. Having used IBM's system in its own operations, GSMS is now offering pedigree compliance services to pharmaceutical manufacturers seeking a quick and proven way of addressing regulations taking effect in California and around the world.

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