January 04, 2006
Pharma investments in RFID to grow
According to Frost and Sullivan, the investments by pharmaceutical companies in RFID will reach $ 2.3 billion by 2011. FDA recommendations regarding the use of RFID to tackle spurious drugs will play a major role in the adoption of RFID by the pharmaceutical industry. The business of counterfeit pharmaceuticals is expected to be worth $ 75 billion by 2010. Pharmaceutical companies in the US and Europe are already conducting pilots with RFID. in-pharmatechnologist.com reports:
"There is a significant focus on using RFID in pharmaceutical manufacturing because of the FDA's interest in using RFID tags to help combat diverting and counterfeiting," said Jeff Woods, research vice president at Gartner.
Read More: RFID exploding into pharma industry
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