According to WHO (World Health Organization), counterfeit medicines and drugs are occupying almost half of the overall global pharmaceutical market share, with the greatest share of duplicated products being circulated in regions where enforcement and regulations are not rigid.
Invest In Pharmaceutical Anti-Counterfeiting Solutions The dangerous implications of counterfeit drugs today are one of the major challenges to the integrity of public health systems and wellness around the world. What most people fail to realize is that the profits gathered from this crime is increasingly being designated by a group of secretive and well organized criminal groups and third party entities, to finance their disreputable operations globally. Given the state of pharmaceutical counterfeiting today, it poses a threat to national and international health safety resulting in chronic ailments and at times death from use of these medicines. According to WHO (World Health Organization), counterfeit medicines and drugs are occupying almost half of the overall global pharmaceutical market share, with the greatest share of duplicated products being circulated in regions where enforcement and regulations are not rigid. Hence, not many brands are aware that the original medicines that they manufacture are actually being duplicated before they reach the market along with price manipulations. What are counterfeited medicines? Whilst on the subject of pharmaceutical counterfeiting, it is crucial to know certain aspects related to counterfeit medicines. They are: ● Products/drugs that are marketed with the purpose of deceiving ● Counterfeit labeling ● Counterfeit bulk/active ingredients ● Finished counterfeit products ● Unregulated diverted products ● Mislabeled substances, for instance the generic antibiotics Need For Pharmaceutical Anti-Counterfeiting Apart from health hazards, the effects of counterfeit drugs include brand erosion. Duplicate goods from gray market when sold through a trusted brand name soon lose its authenticity and consumer goodwill, having a negative impact on the overall business. To counter these and other adverse effects of counterfeit Pharma drugs, today leading providers of brand protection solutions have introduced pharmaceutical anti-counterfeiting solutions. Advanced pharmaceutical anti-counterfeiting solutions efficiently helps pharmaceutical companies to locate the violators and shut down their operations, so that the lost brand image and revenue can be regained. The solution helps to resolve drug counterfeiting with its innovative search technology for any products round the globe. It checks on discount percentages, pricing and the quantity of every product and the end users can view this data in the form of user-configurable charts on their dashboards. The solution also comes with an organized company risk index that marks the suspects and highlights them. This index helps Pharma brands to recognize the sellers that are making them lose their business and brand value. With focused investigation and enforcement activities the solution assists in minimizing the impact of product counterfeiting on the brand. Read More About: enterprise risk management, Anti-Fraud, brand management
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