Sproxil: Top 10 Most Innovative Companies in Healthcare

Sproxil is one of 10 companies included in Fast Company’s Top 10 Most Innovative Companies for 2013 [1]. Based in in Cambridge, Massachusetts, Sproxil provides a consumer SMS verification service through its Mobile Product Authentication (MPA) solution. The technology empowers consumers in the war against product counterfeiting by using a cell phone to verify that they purchased a genuine product. Sproxil’s service is currently being used by several pharmaceutical companies in the fight against counterfeit drugs. According to the World Customs Organization, the fake drug market is estimated to be a $200 Billion a year industry. The problem of counterfeit drugs is particularly acute in emerging markets, where an estimated 30% of drugs are fake and may be harmful or lethal to consumers. Sproxil’s service places a scratch-off label on products. After purchasing a product, consumers scratch off the label to reveal a unique, random code. The code is sent via SMS to a country-specific short code, and the consumer receives a reply almost instantly indicating whether the product is genuine or not. Check out a brief interview with Sproxil CEO Ashifi Gogo below. Interested in other Fast Company Top 10 Most Innovative Companies in Healthcare 2013? Check them all out with the tag Fast Company 2013 Most Innovative Healthcare. References The World’s Top 10 Most Innovative Companies in Health Care. Fast Company. 2013 Feb 11. Sproxil: Top 10 Most Innovative Companies ...
Source: Highlight HEALTH - Category: Medical Scientists Authors: Source Type: blogs