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This content was submitted directly to this Web site by the supplier.Article | May 31, 2004
Traceable Solutions for Medical Packaging (sidebar)
Counterfeiting…A Growing Concern
Unfortunately today’s Internet technology is opening opportunities for drug counterfeiters to make incredible amounts of money. Selling counterfeit expired or otherwise unsafe medicines has become a very profitable enterprise and a key driver for improved and traceable pharmaceutical packaging.
A few facts about this important issue:
• Counterfeit drugs make up more than 10% of the global medicines market (Source: FDA).
• In poor and underdeveloped nations up to 25% of the medicines consumed are counterfeit (Source: World Health Organization).
• Estimated annual earnings from the sale of counterfeit drugs is $32 Billion (Source: World Health Organization)
• “Because the capabilities of counterfeiters continue to evolve rapidly there is no single “magic bullet” technology that provides any long-term assurance of drug security. However a combination of rapidly improving “track and trace” technologies and product authentication technologies should provide a much greater level of security for drug products in the years ahead.” (Source: FDA).
• “The diverters pave the way for counterfeiters who use pill-punching machines and special inks to produce near-perfect copies of the most popular and expensive drugs.” (Source: The Washington Post October 19 2003).
See the story that goes with this sidebar: Traceable Solutions for Medical Packaging
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