Aegate News

Next Stop: Greece

Aegate announces it is entering the Greek market, offering a simple and effective solution to protect pharmaceutical brands against the risks of substandard or illegal medicines reaching patients

Athens, May 18, 2007- Aegate has chosen Greece to be the next stop in a pan-European expansion plan following their successful roll out in Belgium. Aegate is implementing a simple yet effective patient safety solution that links pharmaceutical manufacturers to pharmacies, opening a live communications channel directly to each pharmacy.

Aegate is the first company to provide an operational solution to ensure medicine authenticity in Europe. Operating inside the pharmacy software system, Aegate utilises an individual package's unique code (a simple barcode) to validate each medicine dispensed by the pharmacist; confirming that it is in date, not recalled or illegal, at the moment when it counts - before the drug is dispensed to the patient.

A European Parliamentary symposium on pharmaceuticals in Brussels this week, called Putting an end to drug counterfeiting, convened policy makers, regulators and specialists on medicines trading. It confirmed that fake drugs have made it into the legitimate medicines supply chain in Europe. Products in the legal supply chain may travel through as many as 20-30 pairs of hands before finally reaching the patient.

From worldwide production to a single box dispensed to the patient in Greece, pharmaceutical companies can be assured, using Aegate, that the brand given to the patient is protected against the growing risk of substitution by counterfeiters or illegal importation.

Aegate will be demonstrating the capabilities of the system and its unique features next week during the 6^th Annual HealthWorld Conference on May 22^nd, 2007 (Ledra Marriott from 9am to 5pm).

Aegate's unique patient safety communications network will enable companies to build closer relationships with pharmacy. For example, revenue losses from poor treatment compliance are estimated to be between $25 billion and $30 billion per annum. Utilising the communications channel, helpful treatment information can be provided to pharmacists directly from the pharmaceutical company to assist patients to fulfil the benefits of the treatment they have been prescribed.

In Greece, Aegate has already signed agreement with the largest pharmacy software provider CSA with the aim of providing Aegate to pharmacies. In addition, Aegate has signed agreement with the ADVANCE - PHARMACISTS NETWORK S.A., with the aim of providing Aegate to pharmacies. This will enable Authentication at the point of dispensing ™ to be offered to over 3,000 pharmacies.