Need for increased data accuracy for pharmaceutical companies

Accurate and timely data is the backbone of effective decision-making in any business, and within the pharmaceutical industry the need for supplier data that is both reliable and well managed is more crucial than ever. Whether it is the battle against counterfeit prescription medicines entering the UK or the absence of a meaningful product code, the importance of data is rising up the business agenda. Ailsa Colquhoun, an independent freelance journalist, argues the business case for increased data accuracy for pharmaceutical companies.

Counterfeiting is a serious matter and, although the number of counterfeit medicines in the legitimate supply chains remains small- only four incidents last year, compared to the 600-plus million prescriptions that were written in the UK - it is one the industry is determined to keep on top of.

The UK Department of Health is currently carrying out a scoping exercise to review the potential applications, benefits, risks and broader implications of adopting product identification technology, and what standards should be introduced.