1. How to Combat Pharmaceutical Counterfeiting
Public health and the reputation of legitimate pharmaceutical industry are being threatened by the global
counterfeit medicines market. Patients place their trust in the system that delivers that product from the
manufacturer all the way to the treatment site. And this growth of medical counterfeiting is throwing the system
of trust into disarray. The global counterfeit drugs trade is more pervasive than ever, being fuelled by the amplified
sophistication of the internet as a facilitating technology.
The problem
With a risk to patients and brands, there are many counterfeit drugs that cost the pharmaceutical industry billions
of dollars annually. The lethal effects of illicit medicines have been demonstrated dozens of times around the
world. Greater sophistication by counterfeiters and increased online drug purchasing, is increasing drug
counterfeiting worldwide. Counterfeit drugs cover a wide range of conventional medication and although some
manage to replicate the medical effects of the legitimate product, there are many that do not. Fake medicines may
include insufficient or inflated quantities of active ingredient that can sometimes be fatal.
The solution
By attempting to tighten security in the pharmaceutical supply chain, there are many that are many that recognize
the importance of identifying and developing appropriate anti-counterfeiting technologies. A number of experts
are looking into systems like physical identification and online brand protection, making it more complex for
counterfeiters to permeate the market.
Pharmaceutical Anti Counterfeiting
The rising prevalence of product counterfeiting yields significant commercial opportunities for companies offering
anti-counterfeiting solutions, as well as for their clients. Pharmaceutical counterfeiting has considerable social and
economic ramifications. One the one side, consumers don't get the safe and effective products they pay for and,
on the other side, legitimate manufacturers of pharmaceuticals suffer from patent and copyright infringement.
The brand reputation is usurped with counterfeiting. Although there are no recognized legal requirements for
manufacturers when it comes to combating counterfeiting, the commitment can differ considerably from company
to company. The protection of the global supply chain can be most effectively dealt with a unified international
effort to create a standardized, transparent system.
An effective pharmaceutical anti-counterfeiting solution can provide visibility into the worldwide market, and offer
real-time information in a simple way. With a pharmaceutical anti counterfeiting solution, violators can be
identified and they can be stopped in time to recover revenue and brand reputation. Companies need to realize
that if a brand is not protected its market share and profitability will also fall along with the public's confidence in
the brand.