VerifyMe Technologies to Combat World-Wide Counterfeit Drug Epidemic
ROCHESTER, NY / ACCESSWIRE / June 15, 2020 / VerifyMe, Inc. (OTCQB:VRME), a digital technology solutions provider specializing in counterfeit prevention, authentication, serialization, data mining, track and trace, features for labels, packaging and products, is pleased to announce that it has entered into a strategic relationship with Techind Engineers & Consultants-Impex ("Techind"), part of the Gohar Group, of India.
Techind has experience in serialization and track and trace, having sold and installed more than 100 production line serialization systems for 10 clients in the Pharmaceutical industry over the past few years.
VerifyMe and Techind will work together in providing the VeriPAS™ serialization and track and trace solution to the broad range of industries and clients of Techind, with specific focus on the Pharmaceutical industry. Other project areas of Techind include: Bio-technology, Processed Food, Chemicals and Allied Packaging up to tertiary stage, on a turnkey basis. With 35+ years of presence in the market, Techind has earned its position, trust and goodwill in the region.
Techind's CEO A.J.S Gohar stated, "We have experience in serialization and track and trace over the past 9 years as our clients have asked for product authentication and brand protection solutions. VerifyMe's VeriPAS™ is an upgrade from what we were previously doing and something we believe our existing clients can integrate with and new clients will desire. We have already highlighted the areas of pharmaceutical, nutraceutical and consumer products, where we have clients and relationships that seek serialization and track and trace solutions. This partnership is particularly timely given our experience in the pharma industry and recent avenues to serialize and authenticate COVID-19 test kits. This will be an immediate area of focus. We look forward to rolling out VeriPASTM to our client base in India, the SAARC region, and worldwide."
VerifyMe Chief Executive Officer Patrick White commented, "According to the World Health Organization, people are dying in the tens of thousands from the scourge of counterfeit drugs. See https://www.newsweek.com/tens-thousands-children-dying-fake-drugs-new-report-shows-726104. People want comfort that the drugs and medications they are taking are authentic. Our technologies allow both users and brand inspectors to perform a simple instant effective authentication test with their smart phone. We are thrilled to have our technologies chosen by the Gohar Group and Techind. Combining our counterfeit protection technologies with their expertise in building pharmaceutical manufacturing systems is a win not only for their pharmaceutical clients but for the people that need to be protected from harmful and deadly counterfeit drugs. Their business success and impeccable reputation, not only in India and the SAARC region, but worldwide, represent an opportunity for our serialization and track and trace solution, VeriPAS™. Their client list is extremely impressive and particularly in pharma, represents great opportunity for us potentially with the likes of Sun Pharma, Cipla, Lupin, Panacea Biotec, Wockhardt, Intas, Apotex, Hospira, Johnson & Johnson, Daiichi Sankyo, Sanofi Aventis, Glaxo Smithkline, Novartis, Merck, Pfizer and AstraZeneca. We also look forward to working with Mr. Adhinayak Gohar- Director Technical of Techind in making our world a safer place."
For a list of highlight clients of Gohar Group, please visit:
About Gohar Group and Techind Engineers & Consultants-Impex
Gohar Group was founded in 1945 and operates in a diverse range of activities with a broad spectrum of exclusive services, into various promising areas such as manufacturing. Information technology & telecommunications, healthcare, energy/oil & gas, banking & insurance, infrastructure & construction, education and environment conservation & re-cycling. For additional information, please visit: http://www.gohargroup.in.
Techind, with offices in Delhi and Mumbai, is carrying out the business of Turnkey Project Engineering & Consultancy, rendering services in the SAARC (The South Asian Association for Regional Cooperation) is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka) region. Techind is also engaged in the representation of foreign principals, from Europe and the U.S., to market their machinery, equipment and know-how to various clients worldwide.
About VerifyMe, Inc.
VerifyMe, Inc., is a technology solutions company that markets products supported by patents, patent applications and trade secrets which provides identifiers and serialization for authenticating, tracking and tracing functions for labels, packaging and products. VerifyMe's technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track-and-trace software known as "VeriPAS™" that allows both consumers and brand inspectors to verify authenticity with their smart phones. VeriPAS™ is a serialization software system that brand owners access thru a web portal to monitor, control and protect their products complete "Life cycle". To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional presses and locations, the results of ongoing tests, and roll-out of our products and authentication devices which involve uncertainty and risk. The words "believe," "may", "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the company's ability to work with partners in selling its technologies to businesses, production difficulties, our inability to enter into contracts and deals with future partners, and issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies, the efficiency of our authenticators in the field, our patents including potential litigation, and the ongoing novel COVID-19 pandemic. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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