Verify Your Medicine Via SMS With Panacea
The country’s fourth biggest Pharmaceutical company Renata Ltd. has teamed up with Panacea Live Ltd. to bring customers a new technique to verify the authenticity of the medicine they consume. All one needs to do is find the unique code on the back of every file of pills and send it to 2777, and he/she will receive a text being notified whether the product is original or not. If the medicine does turn out to be counterfeit, a notice of forgery will be sent to the customer straight away via SMS. Currently, this only works for two of Renata’s medicines - Maxpro, for acidity relief and painkiller Rolac. However, according to the brothers behind Panacea, this method will soon potentially be working with other products, as well as with the other major pharmaceuticals in Bangladesh. Brothers Soumik (CEO) and Souvik (CGO) Aswad revealed that although they received many awards in the last three years, Renata was the first to put their trust in them. Soumik is a BBA student at the Bangladesh University of Professionals while Souvik is a business administration graduate from Dhaka University.The Aswads first had their eureka moment when they started thinking about an “alarming” infiltration of phony drugs in the market and dangers they pose upon the general public. So, they turned this thought into a complete business plan and launched their company in 2014. Ever since, Panacea has received many accolades including first prize at TIE Next Big Bang Challenge, Bangladesh; Second prize at GIST Startup Boot Camp, Bangladesh; first prize at Reconnect Startup Boot Camp, Nepal; and second prize at Start Up Open, Washington, DC in the US. The company faced several challenges trying to execute this idea though, mainly the printing of codes on the back without harming the production yield. Renata's own engineers Golam Arif, Nafeul Islam, Diponkor Dutta Partha, and Rakibul Hasan then came up with breakthrough ideas to help bring the system to life. And after a 10-month period of overcoming obstacles, Panacea finally inaugurated this method to check the authenticity of medicine. Besides the domestic market, Renata also exports their medicine to Afghanistan, Belize, Cambodia, Ethiopia, Guyana, Honduras, Hong Kong, Kenya, Malaysia, Myanmar, Nepal, Philippines, Sri Lanka, Thailand, United Kingdom, and Vietnam.