PHARMACEUTICALS
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New Momentum of Irvine launches to help ban bum drugs
Anti-counterfeiting software for pharmaceutical companies will help stem the tide of bogus medications.
By Susan BelknappPublished: February 26, 2009 03:06 AM
Irvine-based New Momentum is a leading high-tech company and provider of software-as-a-service (SaaS) and enterprise risk management (ERM) solutions.
Combined, these technologies can help combat the rapidly increasing erosion in revenue, profit, brand and market share that results from counterfeit pharmaceuticals. The threats caused by counterfeiters are increasing and include gray market sales and supply interruptions.
New Momentum is now providing Enterprise Brand Intelligence software for pharmaceutical companies so that they can help stem the proliferation of fraudulent drugs on the market.
"According to the Center for Medicine in the Public Interest, worldwide counterfeit sales are increasing at about 13 percent annually – nearly twice the pace of legitimate pharmaceuticals – and could become a $75 billion industry by 2010,” says Stu Clifton, CEO, New Momentum, “These counterfeits pose a significant threat to patient safety as well as eroding pharmaceutical manufacturers' revenues and brand. Our solution gives our clients the tools they need to quickly find the counterfeits and get them to cease operations."
Comparison tests between the New Momentum solution and another anti-counterfeiting software product – conducted by a leading pharmaceutical manufacturer – resulted in finding twice as many counterfeiters in the first eight weeks. Within six weeks, New Momentum software identified several large-scale, potential network rings.
The Enterprise Brand Intelligence solution is based on an advanced web-mining technology, giving pharmaceutical manufacturers greater visibility into the global Internet activity around the clock.
A custom dashboard and e-mail alerts keep the brand security group apprised of any potential counterfeit activity. Manufacturers then have the ability to find new targets and networks that sell counterfeits, locate large players and better model to find consistent trends.
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Combined, these technologies can help combat the rapidly increasing erosion in revenue, profit, brand and market share that results from counterfeit pharmaceuticals. The threats caused by counterfeiters are increasing and include gray market sales and supply interruptions. New Momentum is now providing Enterprise Brand Intelligence software for pharmaceutical companies so that they can help stem the proliferation of fraudulent drugs on the market. "According to the Center for Medicine in the Public Interest, worldwide counterfeit sales are increasing at about 13 percent annually – nearly twice the pace of legitimate pharmaceuticals – and could become a $75 billion industry by 2010,” says Stu Clifton, CEO, New Momentum, “These counterfeits pose a significant threat to patient safety as well as eroding pharmaceutical manufacturers' revenues and brand. Our solution gives our clients the tools they need to quickly find the counterfeits and get them to cease operations." Comparison tests between the New Momentum solution and another anti-counterfeiting software product – conducted by a leading pharmaceutical manufacturer – resulted in finding twice as many counterfeiters in the first eight weeks. Within six weeks, New Momentum software identified several large-scale, potential network rings. The Enterprise Brand Intelligence solution is based on an advanced web-mining technology, giving pharmaceutical manufacturers greater visibility into the global Internet activity around the clock. A custom dashboard and e-mail alerts keep the brand security group apprised of any potential counterfeit activity. Manufacturers then have the ability to find new targets and networks that sell counterfeits, locate large players and better model to find consistent trends. Related headlines Medical aesthetic industry surging despite bad economy OC METRO Minute, Feb. 24: “O.C. physicians expected to experience challenges, according to HealthLeaders-InterStudy” OC METRO Minute, Feb. 18: “Medtech Insight expects home health care product market to expand” |
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