Skip to main content

Market Overview

IBM, Walmart, Merck Included In FDA Program To Test Blockchain Usage In US Drug Supply Chain

IBM, Walmart, Merck Included In FDA Program To Test Blockchain Usage In US Drug Supply Chain

KPMG, IBM (NYSE: IBM), Merck (NYSE: MRK) and Walmart (NYSE: WMT) will be working with the U.S. Food and Drug Administration in a program supporting the U.S. Drug Supply Chain Security Act, tracking and tracing prescription medicines and vaccines distributed within the U.S. using blockchain technology.

Each company will create a shared permissioned blockchain network that allows real-time monitoring of products. The network aims to help reduce the time needed to track and trace inventory; allowing retrieval of distribution information; increased accuracy of data shared among network members; and help determine the integrity of products in the distribution chain.

"With successful Blockchain pilots in pork, mangoes and leafy greens that provide enhanced traceability, we are looking forward to the same success and transparency in the biopharmaceutical supply chain," said Karim Bennis, Walmart's vice president of strategic planning and implementation, health and wellness.

Blockchain is designed to establish a permanent record and may be integrated with existing supply chain and traceability systems.

Related Links:

What Is A Blockchain And What Does It Do?

A New Trade War ETF Arrives Right On Time


Related Articles (IBM + WMT)

View Comments and Join the Discussion!

Posted-In: Blockchain Karim BennisNews Health Care FDA General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at