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A strategic serialization partnership has been announced by advanco and Syntegon, aimed at tackling the global issue of counterfeit drugs.
A strategic serialization partnership has been announced by the Parabellum Investments-backed advanco and Syntegon, aimed at tackling the global issue of counterfeit drugs. The partnership was announced in a Sept. 21, 2020 press release.
Provider of Level 3 item serialization, advanco, and pharmaceutical packaging company, Syntegon, are both members of the Open Serialization Communication Standard (OPEN SCS) working group, which is developing an open standard for the healthcare industry to fight counterfeit medicines. The partnership will combine advanco’s site manager system, ARC, with Syntegon’s machines for packaging pharmaceutical products and drugs to provide a one-stop shop serialization technology.
“Regulatory compliance for serialization is increasingly becoming a focus area for pharmaceutical manufacturers and supply chain partners across the world, positioning firms such as advanco at the very heart of the ongoing evolution of the entire pharma industry,” said Rami Cassis, CEO and founder of Parabellum Investments, which acquired advanco in 2020, in the press release. “It is this exciting proposition that made advanco the perfect fit for Parabellum Investments’ portfolio of firms. We are looking forward to taking the next step with the company as it continues to develop new products and services for the benefit of us all.”
Alf Goebel, CEO of advanco, added, in the press release, “With most developed and developing economies having either already laid out the regulatory road map for serialization, or in the process of doing so, cost and time savings will be increasingly important for the pharmaceutical industry, especially due to COVID-19. Never has it been so important for product serialization services to work together to minimize costs for pharmaceutical companies. The advent of [COVID-19] will most certainly accelerate the implementation of agile supply chain regulation—this will require a strong industry-standard open interface and interoperability.”
Source: Parabellum Investments