As the trusted custodian of the MediLedger Network, we at Chronicled are incredibly proud of the industry-wide alignment, accuracy, and dispute-settlement capabilities we have fostered in life sciences through our innovative blockchain-powered technology. Today, we’re excited to share news that marks the beginning of a new chapter for the MediLedger Network.

We are shifting our focus to enhance our Contracts & Chargebacks business and have made the strategic decision to sell our Product Verification System (PVS) to the National Association of the Board of Pharmacies (NABP). This decision will allow us to concentrate our resources on continuously improving the Contracts & Chargebacks business, while entrusting the future of PVS to an organization that shares our commitment to safety and efficiency in pharmacy practices.

Why the transition?

The decision to sell the PVS was made with our customers and the industry’s future in mind. The PVS has revolutionized the secure and efficient verification of prescription medicine in the U.S, meeting the saleable return requirements of the Drug Supply Chain and Security Act. As we honed our focus on the Contracts & Chargebacks solution, it became clear that finding a new home for the PVS with an organization like NABP would ensure its continued growth and evolution.

Why NABP?

NABP’s mission to protect public health by promoting safe pharmacy practices aligns perfectly with the core values that have driven the development of the PVS. Their dedication to developing, implementing, and enforcing uniform standards for public health made them an ideal candidate to take over the PVS. We believe that under NABP’s stewardship, the PVS will continue to be a driving force for security and efficiency in the pharmaceutical industry.

How will this transition affect current customers?

Our primary goal throughout this transition is to ensure a seamless experience for all of our customers. In the coming weeks, we’ll be working closely with NABP to guarantee a smooth transition.

Will there be changes to the Contracts & Chargebacks business?

This transition allows us to concentrate our resources and energy on improving the Contracts & Chargebacks business on the MediLedger Network. Our customers can expect continued enhancements and service improvements as we focus on this area.

Looking Ahead:

We are excited about this new chapter for the MediLedger Network. With our sharpened focus on the Contracts & Chargebacks business, we are poised to drive even more significant advancements in industry-wide alignment and accuracy in pharmaceutical transactions.

We are grateful for the trust our customers and partners have placed in us and look forward to continuing to serve you. Here’s to the future of the MediLedger Network — a future filled with innovation, growth, and continued commitment to delivering smart, secure supply chain solutions.

We invite you to reach out to us with any questions or thoughts you may have. Together, we will continue to shape the future of life sciences. Stay tuned for more updates!