Market Overview

ACG Inspection Partners with Verinetics to Further Strengthen Their Fight Against Falsified Medicines

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ACG
Inspection
(ACGI) has partnered with CertiRx Corporation, d.b.a. "Verinetics"
for further enhancing its Traceability and Authenticity solutions in the
Track and Trace industry. With this partnership, ACG Inspections is
looking forward to implementing an add-on security layer to provide
Multi-Factor Authentication to the end consumer.

Multi-factor authentication is a security system that requires more than
one method of authentication from independent categories of credentials
to verify an identity. Verinetics patent-protected software product, TraxSecur™
is a next-generation solution for detecting and deterring fraud in the
supply chain. Using TraxSecur as a security mark provides intelligent
authentication, linked with serialization data. This makes ACG
Inspection an end to end solution provider for Track and Trace
requirements, product tracing and authentication solutions.

Falsified medications are one of the major problems faced by the global
pharmaceutical industry. As per the World Health Organization (WHO), an
estimated 1
in 10 medical products
in low- and middle-income countries is
substandard or falsified. This year, on World Anti-Counterfeiting Day
(6th June 2018), ACG Inspection waged a war against falsified medicines.
This campaign emphasized on the effects of substandard or falsified
medicines on the human population and the global pharmaceutical industry
with the message "Get the Fake Drugs Off the Market".

On the association between ACG Inspection and Verinetics, Mr.
Ettore Cucchetti
, CEO, ACG Inspection said, "With the increasing
threat of falsified medicines 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. We strongly believe that our
association with Verinetics is a step towards nipping the problem that
is grappling the industry today. With the introduction of TraxSecur with
Track and Trace regulatory compliance will help us to safeguard the
existing supply chain. The association will equip consumers with product
authentication and ensure genuine products to consumers. Also, it will
bring the consumer closer to the pharmaceutical companies, providing
first hand feedback about the products."

Dr.
Tom Mercolino
, CEO Verinetics said "Wherever high-value
products have health and safety risks, companies are investing to
protect their customers through supply chain security solutions like
serialization and blockchain. ACGI has the vision to bring TraxSecur to
the pharmaceutical market and deliver its unique benefits as a secure
link between items in the physical world and data about those items
being tracked in serialization and blockchain systems. We also applaud
ACGI for recognizing the importance of TraxSecur's multilayered approach
for deterring supply chain frauds with overt feature, increasing fraud
detection and enforcement effectiveness through it covert features, and
how it's implementation will increase patient trust in their customers'
products."

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