Leading American Pharmaceuticals company along with Pfizer Inc. have teamed up to build a project for the health and pharmaceuticals industry, according to the press release on May 2. 

AmerisourceBergen Corporation, McKesson Corporation, Premier Inc. and Pfizer Inc. have combined the MediLedger Contracting and Chargebacks Working group. MediLedger is mainly an initiative of the San Francisco based blockchain tech firm aimed to decrease the costs and organize data sharing processes by building a common network. Finally, the solution will automate the contract settlement and chargeback processes.

Chargebacks are mainly canceled or disputed transactions. A basic incident which happens with the medical supply chains in the United States, Chargebacks mainly consists of various actors along with government programs and private insurers are present at the movement.

According to the release, the network has finally achieved to build a protocol for saleable return drug verification that is flexible with the current 2019 Drug Supply Chain Security Act regulations. The participant's data will be shared with the trading partners they particularly select, as the platform doesn't include a central repository of all data.

Chronicled CTO Maurizio Greco replying about the cooperation that, 

"we can design [the blockchain system] so only the license holder can create records for its own products, for example. This may seem like a simple illustration, but it is revolutionary."

Blockchain is day-by-day gaining the attention of the healthcare space. Before a month, a Blockchain-backed medical data marketplace, and biotech firm Insilico have combined entered into a deal with the South Korean Hospital Gil Medical Center to form a blockchain-based health data management solution. This is meant for raising the efficiency of data collection, enhance medical research processes and to make sure there is transparent management of patient data.

Lately, leading health information technology provider for the U.S. government, HMS Technologies Inc. (HMS) stated that it will incorporate Solve.Care's blockchain platform in their federal health info technology enterprises. The initiative is meant for decreasing government healthcare costs, enhance interoperability and accessibility.