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| home > pmps > spring 2004 > overt anticounterfeit protection for pharmaceutical drugs |
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Pharmaceutical Manufacturing and Packing Sourcer
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Product Counterfeiting is a Major Global Issue that Directly Impacts
Business and Consumers
Companies invest heavily in creating and building brands for a wide variety of products. Well-known brands are an extremely valuable corporate asset and become vulnerable to illegal exploitation by criminals. Unfortunately, the pharmaceutical industry is not immune to this problem and, in many ways, is a highly attractive target for product counterfeiters.
A widely accepted estimate frequently mentioned is that counterfeiting accounts for five to seven per cent of world trade (1). This equated to $400 to $570 billion in 2002, with anticipated future growth of 15-20 per cent each year. Some estimates assess the problem at closer to 10 per cent of world trade. Another way of looking at this is that manufacturers of counterfeit products have grabbed significant market share from brand owners.
The criminals are, in essence, competing against branded product manufacturers, but without the costs of advertising and all the overheads of running a legitimate business. It is very difficult to accurately gauge the size of the problem because of the clandestine nature of the activity and a continued reluctance by many brand owners to address the issue. |
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