Advanced Anti Counterfeiting Solutions To Combat Spurious Drugs

By Author: Alice Coope
Total Articles: 213
Comment this article

With a risk to patients and brands, many counterfeit drugs cost the pharmaceutical industry billions of dollars annually. Pharmaceutical counterfeiting and diversion is a global menace. It threatens not just jobs and company profits, but affects the lives of individuals. Counterfeit pharmaceutical drugs are a major ongoing threat to patients and pharmaceutical manufacturers alike. Counterfeits have always been prolific in emerging markets and it has been found that pharmaceutical counterfeiters are becoming more sophisticated, by-passing the most stringent of tests. Pharma counterfeiting has significant social and economic consequences. Most importantly, consumers don't get safe and effective products they pay for and are put to significant risk.

Pharmaceutical counterfeiting is an evolving and an ongoing threat to patients and pharmaceutical manufacturers and patients. Over the past few decades, various factors have contributed to the growth in counterfeit drugs. Globalization, regional economies, societies, has made it easier for counterfeiters to trade and transport falsified drugs. Counterfeiters take full advantage ...
... of the fact that someone else paid the upfront money for research and development expenses; all counterfeiters have to do is to copy the product. Counterfeit drugs are increasingly finding their way into global distribution chains and ultimately into patients' mouths, it is essential that pharmaceutical companies have effective enforcement strategies to combat the manufacture and distribution of counterfeit drugs.

Traditionally associated with developing countries and illegal online pharmacies, pharmaceutical counterfeiting is finding its way in the legitimate supply chains of industrialized countries. With sales of counterfeit pharmaceuticals predicted to increase at nearly twice the rate of sales of legitimate products, it is not surprising that tackling pharmaceutical crime is high on the agendas of both global policy makers and pharmaceutical manufacturers. Such countermeasures include legislation and regulation, protection and identification, detection and enforcement. Pharmaceutical manufacturers are implementing proprietary security solutions on their products, and working on common safety measures that need to be implemented.

With a number of pharmaceutical anti-counterfeiting solutions available, these solutions are effective and extremely secure. Providing real-time information formatted in a way that’s easy to use, enterprise brand intelligence pharmaceutical anti-counterfeiting solutions offer complete visibility into the worldwide market. Investing in such solutions easily helps find the violators and shuts them down. It also ensures that pharma counterfeiting can be stopped and revenue and brand reputation lost to counterfeits can be successfully recovered.

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. Invest in an effective anti-counterfeiting solution that can offer complete protection and safeguard your brand image and reputation.

Read More About: enterprise risk management, Anti-Fraud, brand management, brand monitoring