Adulteration and fraudulent manufacture of medicines have been prevalent for quite some time now; the situation has only aggravated owing to technological developments and sophisticated methods of duplication.
To add to the problem, current regulations in developing countries do not account for illicit manufacture, trade, and consumption of counterfeit medicine.
Global trade has made this an international problem. Here are some facts which highlight the problem.
- Fake drugs kill more than 250,000 children a year. (Source: The American Journal of Tropical Medicine and Hygiene)
- In developed nations such as the US and Canada, about 1 percent of drugs sold are counterfeit. (Source: WHO IMPACT!)
- Around 20% of all drugs sold in the Indian market are counterfeit. (Source: US Trade Representative Office Annual Report)
- Fake drugs cost local economies between US$10bn and US$200bn a year. (Source: The Guardian)
- Many fakes originate in China and India and have been found to contain everything from lead paint, printer cartridge ink, talc, brick dust, ground up drywall, and arsenic. (Source: Pfizer Spot the Fake Media Sheet)
- Lifestyle drugs, such as Viagra, dominate the market for counterfeit medicines.
Illegitimate drugs are detrimental to the health of consumers often leading to liver & kidney failure and, ultimately, death. Additionally, counterfeit drugs can wreak havoc on a company’s profits causing them to suffer from irreparable damage to their brand reputation.
Anti-counterfeiting solutions can play an important role in the prevention of counterfeiting of drugs, preventing losses to a company’s revenue and reputation. Most importantly anti-counterfeiting solutions help in saving the lives of innocent consumers who unwittingly fall into the trap of buying fake drugs.
Holostik provides the best anti-counterfeiting solutions as per the requirements of the pharma industry.
Our solutions for the pharma sector include:
- holographic strips for blister packs,
- security labels,
- monocartons (secondary packaging),
- GS1-enabled Track & Trace,
- induction-sealing wads,
- shrink sleeves and
- packaging films/security pouches.