Avery Dennison Focuses On Healthcare Labeling Trends According to a 2019 report by The Freedonia Group, demand for pharmaceutical packaging products in North America is projected to rise 5 percent annu- ally through 2023. The Covid-19 pandemic has only accelerated this trending space. There are challenges, though, and they are specifically centered around the supply chain. The World Health Organization (WHO) states that up to 50 percent of vaccines are wasted globally every year due to improper temperature man- agement in the supply chain. Similarly, according to IQVIA, the biopharma industry loses $35 billion annu- ally as a result of temperature-control failures across supply chains. Avery Dennison, a material and substrate supplier based in Mentor, Oio, has seen strong growth for phar- maceutical labels over the last 18 months in response to the Covid-19 pandemic and corresponding effort of the pharmaceutical industry to develop vaccines and other therapies. The company has also seen two other prominent trends: the growth of biologic drugs and the importance of track-and-trace capabilities. “Biological products often represent the cutting-edge of biomedical research and, in time,may offer the most effective means to treat a variety of medical illnesses and conditions that presently have no other treat- ments available,” explained Cory Keller, Senior Prod- uct Manager – Pharmaceuticals,Avery Dennison.“Most large pharmaceutical companies are now spending 40-50 percent — or more — of their R&D budget on biopharmaceuticals. The industry’s migration to these new medicines injects tremendous complexity into the supply chain as they must be handled within specific condition tolerances such as cold chain, con- trolled room temperature (CRT), and frozen. Failure to maintain appropriate conditions at any point in the supply chain can harm the efficacy of the drug, result in the loss of a shipment, and put patients at risk.” Track-and-trace labeling, meanwhile, is so critical because the counterfeit drug market is the largest fraudulent market in the world. It is valued at roughly $200 billion and results in at least one million deaths per year. “Many pharmaceutical brands consider non-authen- tic drugs to be the biggest threat to their brand,” said Keller. “In 2018, the Protenus’ report found 47.2 mil- lion doses lost due to healthcare employee misuse and theft.Healthcare organizations lost nearly $454 million because of clinical drug diversions.” According to Keller, the Drug Quality and Security Act was enacted by Congress on November 27, 2013 to address these concerns.Title II of DQSA,The Drug
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