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Impact of Counterfeits on Pharmaceutical Industry
Impact of Counterfeits on Pharmaceutical Industry
Counterfeiting in Pharmaceuticals has become a Global Program and Almost no Country is Immune to it
London,
London,
United Kingdom
(prbd.net)
01/06/2011
Even though the extent of counterfeiting and its harmful consequences are more concentrated in
developing and poor countries, it is not exclusive to them. Counterfeiting of pharmaceuticals is
increasing all over the world, and has breached the legitimate drug supply chain in many countries,
including the US. The US FDA estimates that more than 10% of the global medicines are
counterfeits, and these are present in both developed and developing countries. In some countries,
more than 50% of the drug supply is made up of counterfeit drugs. The incidents of seizure of
counterfeit medicines are rising each year and affecting the various regions of the world, as shown
in the figure below.
According to the data from PSI, in 2009, Asia and Latin America were the top regions that most
often encountered incidents of counterfeiting of pharmaceuticals, followed by Europe, North
America, Eurasia, the Near East and Africa.
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The countries of Europe and North America that have effective law enforcement and strict
inspection programs by various drug regulatory agencies could not escape from the attack of
counterfeiting. The countries that have the highest number of incidents are not necessarily those
with weak regulation and low law enforcement, although it may also indicate the efforts taken by
the government and national organizations to fight against counterfeiting. At the same time,
countries which seemingly have low incidence of counterfeiting are not necessarily safe or at lower
risk of counterfeiting of pharmaceuticals, but due to weak law enforcement, lack of political will, lack
of funding and inadequate regulatory structures, the act of counterfeiting often does go
unrecognized in certain parts of the world.
GBI Research, the leading business intelligence provider, has released its latest research, “Impact
of Counterfeits on Pharmaceutical Industry - Counterfeiting Poses Threats to Patient Safety
and Revenues of Pharmaceutical Companies”. The report is built using data and information
sourced from proprietary databases, primary and secondary research and in-house analysis by GBI
Research’s team of industry experts. The report provides in depth analysis and information on the
rising threat of counterfeit medicines all over the world. The report also provides the global scenario
of counterfeit medicines and gives comprehensive information about access points of counterfeit
medicines in the legitimate drug supply chains. Furthermore, the report provides an account of
factors encouraging the counterfeit medicines and discusses the global initiatives and technologies
used to detect and prevent the counterfeiting in pharmaceuticals. This report also provides a
comprehensive insight about the parallel trade in Europe and in the US and also discusses factors
that encourage the parallel trade in pharmaceuticals, and provides information about the parallel
trade policies in Europe and the US. Furthermore, the report also offers a comprehensive analysis
of the impact of counterfeiting and parallel trade.
For further details, please click or add the below link to your browser:
http://gbiresearch.com/Report.aspx?ID=Impact-of-Counterfeits-on-Pharmaceutical-Industry-Counterfeiting-Poses-Threats-to-Patient-Safety-and-Revenues-of-Pharmaceutical-Companies&Title=Pharmaceuticals_and_Healthcare&ReportType=Industry_Report
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