139% Annual Growth in Manufacturing Customers Validates Success of TraceLink's Differentiated Network Approach to Efficiently and Cost-Effectively Address Global Serialization Requirements
NORTH READING, Massachusetts, Jan. 8, 2018 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced that as of the end of 2017, 394 pharmaceutical and contract manufacturing customers have selected the Company's serialization solutions to comply with regulations in the U.S., Europe, China, India and South Korea. The Company attributes this rapid customer growth – which represents a 139 percent increase year-over-year in manufacturing customers and an industry record in the life sciences track and trace market – to the success of its Life Sciences Cloud network, the industry's only multi-tenant solution capable of efficiently and cost-effectively digitizing the global pharmaceutical supply chain.
The Company added 75 new pharmaceutical and contract manufacturing (CMO) customers in Q4 of 2017, with 50 new manufacturing customers added in the month of December alone. EMEA-based companies represented 73 percent of the new manufacturing customers that invested in TraceLink solutions during the fourth quarter. Demand for TraceLink's serialization solutions continues to accelerate as the global pharmaceutical industry moves to comply with the February 2019 deadline for the EU Falsified Medicines Directive, as well as current requirements under the U.S. Drug Supply Chain and Security Act (DSCSA).
"As the market matures, a range of serialization vendors are claiming to have leadership positions despite the struggles they face in completing projects successfully. Manufacturers that have selected alternative solutions are still not live in production, which involves integrating and exchanging data with all of their trade partners, serializing their entire product portfolios, shipping serialized medicines to all the markets they serve, and successfully submitting compliance reports to governments that require them," said Shabbir Dahod, president and CEO of TraceLink. "To date, nearly 400 manufacturers have selected TraceLink as their serialization partner, with more than 130 of them already delivering over 520 million serialized products to market. We've successfully processed and submitted nearly half a billion compliance documents to regulators on behalf of these customers – and have yet to see demonstrable proof from any other solution provider that comes close. As pharma manufacturers and CMOs continue to turn to TraceLink for their serialization needs, we look forward to working closely with them and minimizing their risk of ensuring supply to patients who depend on their medicines every day."
With 265,000 life sciences companies, distributors, hospitals and clinics on its network, TraceLink has built the industry's only end-to-end digital information sharing platform for the pharmaceutical supply chain. TraceLink facilitates the fastest and most comprehensive trade partner and system integrations for serialization, and eliminates the complexities associated with point to point connections.
TraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including Deloitte's Technology Fast 500 (ranked number 177 in 2017), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.
SOURCE TraceLink Inc.