14-05 Mobile service PharmaSecure finds demand in losing fight against fake drugs

PharmaSecure authenticates meds on a large scale on behalf of drug manufacturers, perhaps even larger than competitors like Sproxil and mPedigree.

PharmaSecure, which has a U.S. office in Lebanon, NH, and an India base in Gurgaon, has churned out verifications for more than 500 million packages of medicine. Patients or others along the supply chain use codes from the company to check the authenticity of medicines with their mobile phones or other electronic means.

With more than 500 million packages encoded, PharmaSecure has grown rapidly since claiming in October 2011 to have printed more than 65 million pharma packages with unique ID codes.

Back in 2011, Google ($GOOG) Executive Chairman Eric Schmidt’s Innovation Endeavors and others invested $3.9 million in PharmaSecure’s fledgling business.

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