Merck uses blockchain to track drugs from lab to pharmacist

July 15, 2019

The US Food and Drug Administration (FDA) is working with Merck, IBM, KPMG, and Walmart, in a pilot project aimed at evaluating the use of blockchain technology to protect the integrity of their drugs.

The pilot project will trace the journey of various vaccines and prescription medicines made by Merck from manufacture to delivery. The bigger FDA plan is a platform it can use to track and trace prescription medicines and vaccines distributed in the United States.

The project is aimed at reducing the time needed to track and trace, improving access to reliable distribution information and ensuring products are handled appropriately and stored at the right temperature while being distributed.

Blockchain software is designed to establish a permanent record of transactions that cannot be tampered with or changed once entered. It allows all parties to the transaction to share information simultaneously. Walmart and IBM are already working together as part of IBM’s Food trust which is using Blockchain to track fruit and produce from farm to store.

IBM and Merck are examples of global leaders who are at the forefront of new technology and its applications. They can be found in Harvest Portfolio ETFs.  IBM is a component of the  Harvest Tech Achievers Growth & Income ETF (TSX: HTA, HTA.U). Merck is a component of  Harvest Healthcare Leaders Income ETF (TSX:HHL, HHL.U).

Harvest also launched Canada’s first blockchain ETF in February, 2018.  The Blockchain Technologies ETF (TSX: HBLK) holds 19 stocks, as at June 30, 2019, exposed to the development and implementation of Blockchain and distributed ledger technologies.

Ten core large cap holdings account for 51% of the ETF which has an average market capitalization of CAD $146 billion for the entire portfolio as at June 30, 2019 with a management fee of 0.65%.

For more information about Harvest ETFs click here.

The views and/or opinions expressed in the blog are of a general nature and are for informational purposes only. Blog contents should not be considered as advice and/or a recommendation to purchase or sell the mentioned securities or used to engage in personal investment strategies. Investors should consult their investment advisor before making any investment decision.

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