DataVault AI and Wellgistics Health Plan to Launch PharmacyChain Integration
Partnership Announcement: DataVault AI, Inc. and Wellgistics Health, Inc. have entered into a non-binding letter of intent to implement blockchain-enabled smart contracts for prescription drug tracking.
Objective of the Partnership: The collaboration aims to digitize the tracking of prescription drugs from the point of prescription to fulfillment, ensuring accurate delivery to patients.
Revenue-Sharing Plan: The companies are planning a revenue-sharing arrangement based on fees from pharmacies utilizing the PharmacyChain system.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
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Convergence of Technologies: The partnership aligns with a growing trend of merging AI, blockchain, and healthcare innovation, with thematic ETFs like ARK Genomic Revolution ETF and ROBO Global Healthcare Technology and Innovation ETF already capitalizing on this convergence.
PharmacyChain Platform: The collaboration aims to develop the PharmacyChain platform, which will enhance transparency in drug tracking and address longstanding issues in pharmacy logistics, while also exploring a revenue-sharing model for platform usage.
Technological Advancements: This initiative follows Wellgistics' launch of HubRx AI, its proprietary AI platform for pharmacy operations, indicating a strong commitment to leveraging technology for improved efficiency in the healthcare supply chain.
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Partnership Details: The collaboration aims to launch PharmacyChain, a smart contract system for digitizing prescription tracking, enhancing efficiency and patient safety, while also exploring a revenue-sharing model.
Recent Developments: This announcement follows Wellgistics' recent launch of HubRx AI, an AI platform designed for pharmacies, further indicating the company's innovative direction.
Current Stock Performance: As of the latest update, WGRX shares were trading at $1.23, significantly up from a 52-week low of $0.33, reflecting strong market interest.
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Sector Movements: Communication services stocks rose by 1.2%, while energy stocks fell by 0.4%. Notable stock movements included Wellgistics Health surging 229% and Deckers Outdoor Corporation dropping 13%.
Economic Indicators: The University of Michigan consumer sentiment was revised down to 53.6 in October, while the S&P Global services and manufacturing PMIs showed improvements, indicating stronger economic activity.
Global Market Trends: European and Asian markets mostly closed higher, with Japan's Nikkei 225 gaining 1.35% and the eurozone's STOXX 600 rising 0.07%, reflecting a positive global market sentiment.
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Procter & Gamble Earnings Report: Procter & Gamble reported better-than-expected earnings and sales for Q3, raising its fiscal 2026 guidance for adjusted EPS and sales, surpassing analyst estimates.
Notable Stock Movements: Wellgistics Health saw a significant increase of 183% after a partnership announcement, while Genenta Science surged 145% due to a collaboration expansion. Conversely, Picard Medical's shares dropped 72%.
Global Market Overview: European shares were mixed, with slight gains in some indices, while Asian markets mostly closed higher. Economic indicators showed an increase in the S&P Global services and manufacturing PMIs for October.
