Applied DNA Sciences, Inc. and ACG have signed a memorandum of understanding (MoU) that will allow ACG to utilize Applied DNA’s SigNature molecular tagging and authentication technologies to develop molecularly tagged empty hard-shell capsules for offering to ACG’s customers to enhance product traceability and authentication. The MoU is expected to be followed by a definitive agreement.
The empty capsules market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 7.2 percent between 2016 and 2021 to reach $2.13 billion by 2021.
The development of molecularly tagged empty hard-shell capsules will allow ACG’s customers to enhance every distribution channel’s integrity. It will also provide pharmaceutical companies with increased and assured capabilities when investigating suspected counterfeit medicines and help enhance patient and regulator confidence in pharmaceutical companies and their supply chains.
“With the increasing threat of counterfeits in the pharmaceutical supply chain and regulations mandating companies to deploy strategies such as serialization and to have greater awareness, there is a need for innovative and effective solutions for product authentication, track and trace and supply chain integrity,” Selwyn Noronha, CEO, ACG Capsules said. “We strongly believe that our association with Applied DNA is a step towards nipping the counterfeiting problem that is grappling the industry today.
“With the introduction of stricter regulatory norms and measures across the globe, the pressure lies increasingly in improving existing supply chain safeguards,” Noronha continued. “The association will equip pharmaceutical companies with greater capabilities to thwart the threat of counterfeits by providing amplified traceability solution across the supply chain.”
Dr. James Hayward, president and CEO of Applied DNA said that the ability to forensically test a capsule in the field and quickly prove its provenance is “a powerful tool for all nodes of the pharmaceutical supply chain and will ensure a more secure and traceable global pharmaceutical supply chain.”
(Source: Applied DNA Sciences, Inc.)
