Midland, MI…November 19, 2018
The Axia Institute recently hosted “Pharma Forum: Value Beyond Compliance” to help leaders from across the pharmaceutical industry explore opportunities created by their efforts to meet upcoming regulations.
Beginning November 28, pharmaceutical manufacturers will be required by the federal government’s Drug Supply Chain Security Act (DSCSA) to serialize prescription drugs to enable traceability. Over time, DSCSA requirements will expand to pharmaceutical repackagers, wholesalers, and dispensers, with a goal of achieving unit-level traceability across the entire pharmaceutical supply chain by 2024.
Meeting DSCSA regulations requires investments in capabilities that have the potential to go well beyond compliance. The Forum led participants in an exploration of that potential, especially in light of breakthrough capabilities being developed by researchers at Michigan State University (MSU), enabling Forum attendees to put their organizations in position to generate substantial, long-lasting value.
The Forum took place November 2 at the Midland Country Club in Midland, Michigan. The Axia Institute, based in Midland, Michigan brings together MSU’s world-renowned value chain expertise with leading businesses and other organizations to serve as a premier research and education organization. Axia’s mission is to be the “top-of-mind” value chain center of excellence, leading the world in high-impact solutions to revolutionize value chains.
Axia researchers joined senior serialization leaders from large pharmaceutical manufacturers including Eli Lilly, Bristol-Myers Squibb, Abbott, and LFB USA in the daylong Forum. Keynote speaker Shari Diaz, Program Director for IBM Watson Supply Chain, addressed the ongoing transformation of the supply chain. Diaz stressed the importance of three themes during her presentation:
MSU faculty who presented at the Forum included professors from the Eli Broad College of Business, the College of Engineering, the School of Communication Arts and Sciences, the School of Packaging, and the Center for Anti-Counterfeiting and Product Protection (A-CAPP). Axia Principal Investigators (PIs) presented their current research and advancements in the field of smart packaging and the potential applications within the pharmaceutical industry. Attendees participated in discussions facilitated by Dr. William Donohue, Distinguished Professor of Communication, on current opportunities and challenges regarding serialization and supply chains.
“Our Pharma Forum was certainly a success,” exclaimed Katherine Franz, executive director of the Axia Institute. “We brought senior leaders from some of the world’s largest pharmaceutical manufacturers together to discuss some of the industry’s most pressing problems,” Franz continued. “Using Axia’s neutral platform we look forward to proposing solutions to address opportunities that exist beyond compliance to improve patient safety across the pharmaceutical value chain,” Franz concluded.