RemediChain announced it has begun accepting individual donations of oral chemotherapy prescriptions, the first step in the Memphis-based company's use of blockchain technology to address the financial and environmental problems of medication waste. To facilitate the donation process, RemediChain will partner with three Memphis organizations to take in medications - Baptist Cancer Center, West Cancer Center and Church Health.
"Nationwide, more than $100 billion worth of medication is destroyed each year, while 32 million Americans report that they can't afford their medication," said Jide Anyigbo, pharmacist and co-founder of RemediChain. "This is an especially prominent problem for cancer patients, as oral chemotherapy drugs can cost up to $45,000 for a 30-day supply. By using blockchain technology, we can connect individual donors with unused medications to some of those patients most in need right here in Memphis. It's literally life-saving."
RemediChain, a sister company for Good Shepherd Pharmacy, can accept and redistribute unopened oral chemotherapy tablets and capsules in their original packaging. Those medications can be donated by any patient or cancer clinic in the United States and will be distributed to vulnerable patients who would not otherwise be able to afford their life-saving medicine.