Posted in | Nanobusiness

Protecting Products From Illegal Diversion and Counterfeiting Using Nanoencryption Technology

Published on June 24, 2008 at 11:36 AM

NanoGuardian(TM), a division of NanoInk® that focuses exclusively on delivering brand protection solutions to fight illegal diversion and counterfeiting, announced today that the Food and Drug Administration (FDA) has issued approval to a NanoGuardian client to use NanoGuardian's cutting edge NanoEncryption(TM) technology as an on-dosage, brand protection technology. NanoGuardian's NanoEncryption technology provides pharmaceutical manufacturers with true forensic, multi-layered, authentication and tracing brand protection at the individual dosage level.

"FDA approval of our NanoEncryption technology is an important milestone for public health and the continued fight to secure the pharmaceutical supply chain," said James M. Hussey, CEO, NanoInk. "This novel technology is virtually impossible to copy and creates an impenetrable barrier to reverse engineering by counterfeiters. Not only will NanoGuardian help protect the pharmaceutical supply chain, but we also see additional applications for many other product categories that are threatened by illegal diversion and counterfeiting."

NanoGuardian's NanoEncryption technology works directly on tablets, capsules and vials and captures a virtually unlimited amount of data including manufacturing information, dosage strength, expiration date, and the targeted site of distribution including country, state and specific distributor if desired. NanoGuardian's NanoEncryption technology is complementary to on-package brand protection options such as RFID and 2-D Barcodes, providing a multi-layered, protective approach for each individual dose from plant to patient.

According to a 2006 report from the World Health Organization, an estimated $40 billion in counterfeit pharmaceuticals and an additional $15 billion in diverted products enter the pharmaceutical supply chain each year causing harmful, and at times, devastating consequences for many patients and their families.

"We see on-dosage brand protection initiatives such as NanoGuardian's NanoEncryption technology as an important layer in securing the pharmaceutical supply chain especially given that the vast majority of medications dispensed by pharmacists are repackaged or have the potential to be repackaged," added Dean Hart, executive vice president, commercial operations, NanoGuardian.

Posted June 24th, 2008
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