October 30, 2014
TraceLink Inc., the leader in protecting patient safety and enabling health for global Life Sciences, announced today that Pharmasphere, a pharmaceutical sourcing company, has chosen the TraceLink Life Sciences Cloud and Product Track, TraceLink’s Transaction History Management System, to ensure compliance with the impending US Drug Supply Chain Security Act (DSCSA). Pharmasphere will use TraceLink’s cloud platform, which is used by thousands of companies across the pharmaceutical supply chain, including fourteen of the top-20 pharmaceutical companies, to meet January 1, 2015 DSCSA regulations for tracing and verification of pharmaceuticals.
“DSCSA compliance is a complex challenge for us given the intricate DSCSA legal requirements and our unique business model as both a pharmaceutical manufacturer and wholesale distributor,” said Joe Pizza, vice president of Information Technology at Pharmasphere Inc. “With TraceLink it has been a trusted partnership from the start. They educated us on the nuances in our DSCSA regulatory responsibilities and its impact on our business operations, and then worked closely with us to come up with compliance options. Our proactive investment with TraceLink not only provides us with end-to-end compliance to be ready for the January 1st deadline, it also allows us to focus on our business while TraceLink focuses on ensuring our ongoing DSCSA compliance.”
“Pharmasphere is a great example how forward thinking pharma companies are readying for the fast approaching DSCSA compliance deadline,” said Shabbir Dahod, president and CEO of TraceLink. “A single connection to our platform gives Pharmasphere a complete, commercially-proven DSCSA compliance solution, instantly links them to the thousands of trading partners on our network for DSCSA data exchange and buffers the company from the continually evolving DSCSA regulatory and trade requirements.”
Complicated DSCSA regulations impose significant business risk, data management challenges and business process complexities for companies across the supply chain. This is particularly true for companies like Pharmasphere that perform multiple business functions such as manufacturing and distribution. TraceLink developed its cloud platform and Product Track Transaction History Management System specifically to minimize such risk, cost and complexity, ensuring operationally efficient compliance for all companies of all sizes and supply network configurations.
The TraceLink Life Sciences Cloud: A Unique Platform for Ensured DSCSA Compliance
TraceLink enables manufacturers, wholesalers and pharmacies to instantly link to the thousands of companies already connected to the Life Sciences Cloud. In fact, companies who are considering TraceLink to help them meet January 1, 2015 DSCSA deadlines typically find that over 90% of the suppliers and trading partners they do business with are already on the TraceLink network. A single connection to the Life Sciences Cloud delivers end-to-end DSCSA compliance for all DSCSA requirements of the largest pharmaceutical company or the smallest pharmacy across all supplier and trading partner relationships.
Built on the Amazon Web Services global cloud infrastructure as a native cloud application platform, the TraceLink Life Science Cloud delivers complete end-to-end DSCSA compliance for all Tracing, Verification and Serialization requirements. TraceLink customers gain:
For more information about meeting critical DSCSA compliance deadlines or building a flexible global serialization, track and trace, and reporting platform for China to Brazil, visit www.tracelink.com.
TraceLink protects patients and enables health for companies across the global Life Sciences supply network through the TraceLink Life Sciences Cloud. The TraceLink Life Sciences Cloud is an Amazon AWS-based cloud application platform which enables complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. Winner of numerous industry awards including the Amazon AWS Global Start-Up Challenge Grand Prize and the Edison Award for Innovation in Health Management, the TraceLink Life Sciences Cloud is trusted by fourteen of the top-20 pharmaceutical companies and businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com.
TraceLink is funded by FirstMark Capital. FirstMark Capital is an early stage venture capital firm based in New York City. FirstMark’s mission is to partner with exceptional entrepreneurs who are changing the world by solving meaningful problems. FirstMark has built a deeply engaged community among the extraordinary teams in the FirstMark network to spread ideas and opportunities. FirstMark is privileged to work alongside the founders of remarkable businesses like Pinterest, Lumosity, Aereo, TapAd, Shopify, Riot Games, and dozens more. Visit FirstMark in New York City or online at firstmarkcap.com and @FirstMarkCap.