“"My model for business is the Beatles. They were four guys who kept each other’s kind of negative tendencies in check. They balanced each other, and the total was greater than the sum of the parts. That’s how I see business: great things in business are never done by one person, they’re done by a team." ”
New Technology Helps Travelers Spot Fake Drugs
A new technology can help ensure the safety of medications that sick travelers buy overseas. Mobile Product Authentication, developed by software company Sproxil, allows purchasers to use their mobile devices to send a unique code on the drug packaging to the manufacturer. The traveler receives an almost immediate response indicating whether the drug is real or fake. The company, which has offices in the U.S. and Nigeria, recently received a $1.8 million investment from the nonprofit Acumen Fund, whose goal is to fight poverty in South Asia and East Africa. The investment will be used to build sales teams in the U.S. and Nigeria, begin Sproxil’s expansion into India and Kenya and improve the technology.
Earlier this year, a report published by the United Nations Office of Drug and Crime showed that three in 10 pharmaceutical products found in Africa, Asia and Latin America were counterfeit, while 50 to 60 percent of medications in parts of Asia and Africa had too little or no active ingredients.