SKOKIE, IL--(Marketwire - April 27, 2010) - NanoGuardian™, a division of NanoInk® that works with pharmaceutical manufacturers in delivering brand protection solutions to protect against illegal diversion and counterfeiting, announced today the extension of its state-of-the-art NanoEncryption™ technology in covering single-use vial caps and pre-filled syringes to help ensure the safety of products using these delivery systems. This announcement follows NanoGuardian's recent licensing agreement with Capsugel®, a division of Pfizer, for the protection of capsule-based medications.
Prescription pharmaceutical products delivered in vials and pre-filled syringes are a target for counterfeiters and illegal diverters. In the book "Dangerous Doses," by Katherine Eban, criminals placed counterfeit product labels indicating a higher strength on illegally diverted low-dose vials of medicines. These adulterated, mis-labeled medications penetrated the legitimate supply chain and were taken unknowingly by patients. NanoGuardian's NanoEncryption technology in conjunction with its Closed-Loop Protection™ market monitoring program can assist manufacturers in protecting each vial or syringe against such adulteration.
NanoEncryption technology protects against both counterfeiting and illegal diversion by providing a layered security solution consisting of overt, covert and forensic-level security features. The overt and covert security features allow dose-level authentication at any point in a manufacturer's supply chain, while the forensic-level NanoCodes™ provide unlimited information on each and every dose, including dosage strength, expiration date, date of manufacture, manufacturing location, country of distribution, etc. NanoGuardian's technology provides a strong benefit over other on-dose technologies given that NanoGuardian's security features are implemented with no additional chemicals being added to the medication. Additionally, NanoGuardian's Closed-Loop Protection combines the on-dose authentication and tracing benefits of NanoEncryption technology with a proactive pharmacy auditing program to identify counterfeit or illegally-diverted pharmaceuticals entering the global supply chain.
"Given the significant potential for negative impact to patients' well being, we are pleased to extend our NanoEncryption technology to single-use vial caps and syringes. This extension provides pharmaceutical manufacturers a new, high-tech tool to help ensure the safety of their products using these delivery systems," said Dean Hart, executive vice president of NanoGuardian.
According to the U.S.-based Center for Medicines in the Public Interest (CMPI), counterfeit drug commerce is estimated to grow 13 percent annually through 2010. "That means counterfeit drug sales will grow at nearly twice the rate of legitimate pharmaceutical commerce," said Peter Pitts, President of CMPI. "In 2010, this illegal business will generate $75 billion in revenues -- a 92 percent increase from 2005."
About NanoGuardian
NanoGuardian™, a division of NanoInk®, focuses exclusively on delivering brand protection solutions to fight illegal diversion and counterfeiting. Anchored by NanoInk's novel NanoEncryption™ technology, NanoGuardian enables manufacturers to authenticate and trace the integrity of their products across the supply chain. More information about NanoGuardian is available at www.nanoguardian.net.
NanoInk, NanoGuardian, NanoEncryption, Closed-Loop Protection and NanoCodes are trademarks or registered trademarks of NanoInk, Inc. All other trademarks or registered trademarks are properties of their respective companies.
Contact Information:
Contacts:
Joshua Taustein
Dresner Corporate Services for NanoGuardian
(312) 780-7219
jtaustein@dresnerco.com
David Gutierrez
Dresner Corporate Services for NanoGuardian
(312) 780-7204
dgutierrez@dresnerco.com