Blockchain in Pharmaceutical Research and the Pharmaceutical Value Chain

Abstract

AbstractPharmaceutical research can yield life-changing agents for treating and curing disease, improving quality of life, extending life, and enhancing innovation in the broader healthcare ecosystem. However, the historical processes and approaches for drug discovery and development are fraught with high costs, low success rates, and enduring challenges—from preclinical research to Phase IV surveillance. Overall, the pharmaceutical value chain, consisting of (1) research and discovery, (2) clinical development, (3) manufacturing and supply chain, (4) launch and commercial considerations, and (5) monitoring and health records, suffers from pain points at a variety of stages across multiple vector types. The strengths and characteristics of distributed ledger technology (DLT) (e.g., blockchain), in conjunction with other established and emerging technologies, map extraordinarily well to many of the most substantial challenges in pharmaceutical research and the pharmaceutical value chain. This chapter outlines contemporary and future blockchain-integrated solutions to accelerate and optimize drug discovery and development pathways. It also explores key opportunities well-aligned with blockchain for the five main categories of the pharmaceutical value chain. Finally, this chapter debunks the misconception that technical challenges are the chief obstacle for the conception and implementation of blockchain-based solutions in the pharmaceutical industry while alerting the reader to other challenges and approaches to navigate them.KeywordsBlockchainDrug discoveryDistributed ledger technologyPharmaceutical researchPharmaceutical value chainSupply chain