7th Annual Pharmaceutical Anti-Counterfeiting
|Event Date/Time: Jun 26, 2012||End Date/Time: Jun 27, 2012|
"...one that is deliberately and fraudulently mislabelled with respect to identity and/or source. Counterfeiting can apply to both branded and generic products and counterfeit products may include products with the correct ingredients, the wrong ingredients, without active ingredients, with insufficient quantity of active ingredient or with fake packaging."
These counterfeit medicines appeal to patients in this economic climate because they are cheap and easily available online. This is generating problems for Big Pharma companies as they may have a liability role if these counterfeit medicines are not removed from the market. It affects their brand integrity and costs companies millions in research and development of anti-counterfeiting technologies. It creates losses in revenue for these companies and also governing bodies via tax revenue.
Medicines targeted by counterfeiters usually have high sales with low production costs and make it relatively easy for counterfeiters to distribute these medications in the supply chain. Medications with the capability to have high internet sales are attractive because online transactions provide low accountability to those involved in the counterfeiting trail. WHO estimate 50% of medicines available from sites which conceal their physical address are counterfeit.