Creating a world safe from counterfeit drugs.
An estimated $432B in counterfeit drugs hit the market globally each year.
Counterfeit medicines are a global pandemic affecting developed and developing countries and are growing at a rate of 20% per year. Many of these drugs contain no active ingredients, incorrect amounts, or incorrect ingredients, including deadly fentanyl — contributing to over 100,000 yearly deaths in the US.
ViaTrace’s mission is to solve this human and health safety problem.
ViaTrace uses secure technology to track drugs as they pass through the entire supply chain, from manufacturer to consumer, and gives consumers for the first time the ability to verify provenance.
Consumers have no way of checking if medicine is counterfeit
Counterfeiters are getting ever more sophisticated in their ability to create look-alike medication. The consumer is left with no option but to trust whoever provided the medication.
Consumers are driven to drastic measures
The combination of consumers without insurance coverage and higher drug costs is driving the proliferation of online pharmacies. In the US, only 5% of online pharmacies are licensed and regulated.
Counterfeits drive up healthcare expenditures for everyone
Consumers and insurers have to spend more for care, while manufacturers and pharmacies face increased costs.
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