According to Mckinsey, recent COVID-19 trends suggest demand for care in the coming months may be higher and more widespread than at any point in the pandemic, while providers are also facing intensified capacity, supply, and workforce challenges.
Davin Chen, founder of Kapsule, highlighted that affordability, authenticity, and accessibility are three pillars of successful pharmaceutical treatment and unfortunately, these three pillars are rarely present in developing nations.
As developing countries face even bigger challenges in terms of access to pharmaceutical treatments and vaccines due several economic and social issues such as corruption and fake news; Kapsule is testing an end-to-end supply chain tracking solution from manufacturer to patient, fully decentralised using the latest in blockchain and artificial intelligence technology.
Covid19 emphasizes the challenges that developing countries face when accessing healthcare treatments and that’s why now more than ever, solutions to track the supply chain end-to-end is crucial to save lives.
Mr. Chen added: “We know that our solution will help to speed up vaccine creation, and distribution. There are several key logistics issues found throughout the supply chain of clinical trial products as well as in globally distributed products. These inefficiencies are impacting healthcare systems and the medicine economy in a huge way, and if we are to meet the needs of tomorrow, we must fix the problems of today.”
Kapsule is driven by the ‘Three As’ (driving forward affordable, accessible and authentic medicines for everyone around the world) and in order to do that we must first ensure that the medicines that are sent to developing nations are getting to patients in the best possible conditions.
The logistics challenges our society faces, are still not resolved in even the most developed markets; like the UK, EU and US. Therefore, new regulations like FMD and DSCSA have been created.
For emerging economies that don’t have the same level of infrastructure, regulatory oversight, and resources to tackle issues when they are identified, the problem becomes exponentially more difficult to overcome.
Kapsule is now in the beta stage with Version 1 of their solution, and through the MSDUK network they have been able to build relationships with some of the largest medicine producers in the world. They are also close to deploying a real-world pilot with one of the top 10 global pharmaceuticals who is an active participant of the MSDUK community.
MSDUK is the organisation championing diversity and inclusion in public and private sector supply chains in the UK and Kapsule participated at the Innovation Challenge 2019 – David Chen said “The MSDUK Innovation Challenge not only helped me personally; but included Kapsule in a supportive community. In that community we found our assumptions challenged, ideas stress tested, and received invaluable advice. That’s the power of #Diversity”
Twitter @kapsule_life and @davidkapsule