The Circular Business Model for expired medications demonstrates how expired medications are collected, processed, and repurposed or recycled, contributing to a more sustainable approach to medication waste management or redistribution for near-expiry medications.
Collection and inventory segregation
- Healthcare institutions like hospitals, clinics and pharmacies collect expired medications from their facilities.
- The medications are segregated based on type and packaging.
- Transportation providers are engaged to collect the expired medications from the inventory.
- The medications are transported to a centralized processing facility.
Sorting and categorization
- At the central processing facility, the expired medications are sorted and categorized based on composition and suitability.
Recycling or repurposing
- Medications suitable for recycling undergo a controlled and regulated recycling process.
- Medications suitable for repurposing are evaluated for alternative uses.
Such a circular business model for expired medications could be master minded by the WHO and be implemented nationally also for redistribution of near-expiry medications on a global scale.