Date(s) - 07 Mar 17 - 08 Mar 17
3rd Anti-Counterfeiting Pharma Conference 2017: While the pharmaceutical industry has to constantly evolve tech and research to fight the new challenges in the health care sector on the one hand, it is kept on its toes due to the rampant counterfeit products on the other. Designed in the guise as genuine, these spurious products often lead to adverse reactions or lack of effective healing properties, diminishing confidence in medicines in general and healthcare providers/health systems in particular.
As per the 2016 International Trade Administration Top Market Reports on Pharmaceuticals, estimates on the size of the global Fake Drugs market range from $75 to $200 billion and can make up half of all drugs sold in some low-income countries.
The World Health Organisation (WHO) estimates that up to 30 per cent of branded drugs sold in developing nations are counterfeit which can have profound implications for both patients and the brand.
Wielding a double edged sword, counterfeit products pose a peril to pioneering and generic industries as well as raise the price of the genuine products by diverting the R&D corpus towards devising stricter methods to control counterfeiting.