A system and method for drug management using transferable labels provides a chain of identity for medications from their arrival in a pharmacy to administration to a patient. Drug information is read, in some embodiments optically, and imprinted on a transferable label optionally fabricated of low stretch, chemical resistant material, that is attached to the medication package. The transferable label is checked to make sure that it correctly corresponds to the drug information. At the time of preparation for administration, the transferable label is transferred from the medication package to the administration device, typically a syringe or dose cup. The health care giver scans the patient identification information, usually found on an identification bracelet, the transferable label, and optionally, a unique code belonging to the administering party. The system will reject non-matches between scanned inputs, and may be configured with a variety of safety steps, displays, and reports.