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 appropriateanti-counterfeitingtechnologies. 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 ofproduct counterfeitingyields 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 effectivepharmaceutical anti-counterfeitingsolution 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 andbrand 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.

by: Gladeyas

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