TraceLink Achieves Record Second Quarter Sales and Network Growth
TraceLink Inc., the leader in protecting patient safety and enabling health for global Life Sciences, announced today record sales and network growth
“TraceLink today protects
U.S. DSCSA compliance drove significant growth in compliance projects throughout the second quarter as the industry prepares to meet extensive new tracing and verification regulations starting January 1, 2015. Partnering with new customers, TraceLink’s Network Management Services team is now onboarding over 25,000 network participants onto the TraceLink Life Sciences Cloud in the third quarter alone. As a result, TraceLink customers will be able to exchange DSCSA compliance documentation, through a single connection, with a network spanning 150 pharmaceutical company, 200 CMO/CPO/repackager, 1,000 wholesale distribution and 23,700 pharmacy/hospital/clinic locations by September.
Global track and trace compliance deadlines in China, Korea, Brazil and elsewhere accelerated the strategic shift from traditional, highly customized one-off solutions to a global, harmonized compliance approach on the TraceLink Life Sciences Cloud. China serialization and compliance reporting transactions managed by the Life Sciences Cloud expanded 300% as over 10 million new pharmaceutical products were added by TraceLink customers serving the China market.
By 2018, 75% of the global pharmaceutical market, representing over 10 billion units a year and over 200,000 supply network participants, will be under one or more serialization and traceability regulations. To be ready, a company needs a network compliance platform and solution partner with three crucial characteristics:
- Global Scale: An extensible, validated global cloud platform supporting customers with the terabytes of data, millions of transactions per year and thousands of network connections needed for track and trace compliance
- Industry Expertise: A solution designed for Life Sciences with
built incapabilities incorporating the unique requirements of pharmaceutical manufacturers, wholesalersand pharmacies.
- Standardization: A flexible, multi-tenant system built on industry standards that
enablessimple configuration for today’s diverse global markets and trade partner networks.
Traditional enterprise solutions and generic B2B data management tools simply cannot cost-effectively handle the scale of today’s global supply network, lack crucial network compliance features and require massive customization or are just abandoned all-together when markets and technologies evolve, leaving customers stranded.
“Regulations, technologies, supply chain requirements and industry standards continuously change and customers appreciate our commitment to keep up with their changing business environment and our responsiveness to their unique needs,” added Dahod. “We deliver solutions that customers can build long-term supply strategies around.”
Developed in 2009 and continuously evolved to meet the needs of the pharma supply chain, the TraceLink Life Sciences Cloud is the only secure cloud-based network platform designed for mission-critical Life Sciences operations and providing a highly connected and agile network linking pharmaceutical companies, CMO/CPOs, 3PLs,
- End-to-end U.S. DSCSA compliance with a Transaction History Management System providing integrated tracing, verification and serialization capabilities, lot-level and serialized product support, and flexible interoperable data exchange connectivity including HDMA ASN, GS1
EPCISand secure web portals.
- End-to-end global track and trace compliance with native support for China, Korea, India, Brazil and other global serialization, traceability and reporting regulations on a single harmonized platform.
- Improved external supply performance, enhanced outsourced manufacturing quality management and increased supplier transparency across global markets through a global supply network control tower.
Learn more about TraceLink’s pharmaceutical track and trace solutions and supply network tower applications at 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 delivers the information,
TraceLink is funded by FirstMark Capital. FirstMark Capital is an