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Home » Pfizer invests in RFID cure
rfidwatch

Pfizer invests in RFID cure

July 1, 2006
John R. Johnson
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Drug manufacturer Pfizer is evidently convinced that RFID is the best remedy for drug theft and counterfeiting, and it's backing up its convictions with cash. The giant pharmaceutical concern has joined with other investors to provide $8 million in Series B financing for RFID specialist SupplyScape.

Woburn, Mass.-based SupplyScape, which provides pharmaceutical supply chain solutions, has developed electronic pedigree and drug identity authentication software and services that improve security and visibility. Pfizer already uses RFID and a SupplyScape solution to tag bottles of Viagra.

"We see long-term value in a more effective supply chain, and SupplyScape's current offerings in drug authentication, electronic pedigree and RFID lay the foundation for a safer, cheaper, higher-quality and more efficient distribution of drugs," says Ilya Oshman, vice president of Pfizer Strategic Investments Group.

Automatic Data Capture RFID
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John Johnson joined the DC Velocity team in March 2004. A veteran business journalist, John has over a dozen years of experience covering the supply chain field, including time as chief editor of Warehousing Management. In addition, he has covered the venture capital community and previously was a sports reporter covering professional and collegiate sports in the Boston area. John served as senior editor and chief editor of DC Velocity until April 2008.

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