LaserLock Technologies Applauds Senate Passage of the Drug Quality and Security Act
November 19 2013 - 8:30AM
Marketwired
LaserLock Technologies Applauds Senate Passage of the Drug Quality
and Security Act
WASHINGTON, DC--(Marketwired - Nov 19, 2013) - LaserLock
Technologies, Inc. (OTCQB: LLTI), a company involved in
authenticating products and people, today expressed its support of
the Drug Quality and Security Act passed by the United States
Senate.
"We are pleased that the Senate followed the strong bipartisan
vote of the House earlier this year. This legislation is a
desperately needed measure to protect the American people from the
threat of counterfeit pharmaceuticals," said Neil Alpert, CEO of
LaserLock Technologies. "We strongly urge President Obama to sign
the bill as soon as possible."
The new law requires the Food and Drug Administration to
implement an electronic system of tracing pharmaceuticals
throughout the supply chain at the unit level and establishes a
system of pilot projects in order to find the most cost-effective
and secure technologies in order to achieve that goal.
In April 2013, LaserLock Technologies testified to the
Subcommittee on Health of the House Energy and Commerce Committee
on the subject of securing the nation's pharmaceutical supply
chain. LaserLock recommended a modern, innovative supply chain that
combines the ubiquity of mobile devices, high-tech optics, secure
anti-counterfeiting technologies and the development of
authentication databases. In May 2013, LaserLock Technologies hired
Ron Guido, formerly the head of Johnson & Johnson's
anti-counterfeiting division, to assist the Company in marketing
its anti-counterfeiting and track and trace solutions to the
pharmaceutical industry.
"Now that a track and trace system will be the law of the land,
we are looking forward to participating in this process with our
unique, secure solutions to secure the national drug supply chain,"
said Michael Sonnenreich, Chairman of the Board. "LaserLock is
uniquely positioned to play a leadership role in designing this
system."
LaserLock Technologies' testimony to the House Energy and
Commerce Committee can be found here.
ABOUT LASERLOCK TECHNOLOGIES, INC.
LaserLock is a high-tech solutions company in the field of
authenticating products and people. It offers state of the art
solutions to combat counterfeiting and identity fraud for
governments, health care providers, the gaming industry, the
financial services industry and high-end retailers.
To learn more, visit us at www.laserlocktech.com or follow us on
Twitter @LaserLockTech.
MEDIA INQUIRIES Ann Marie Clements Sage Communications (for
LaserLock Technologies) 703-584-5641 Email Contact INVESTOR
RELATIONS LaserLock Technologies Email Contact