News
The trade in SSFFCs is growing in size and scope, according to publicly available data collected by the Pharmaceutical Security Institute Counterfeit Incident System (PSI CIS), over the period from 2005 to 2010, the theft of pharmaceuticals increased by 66% while counterfeiting incidents increased 122%.
Further, the World Health Organization (WHO) estimates that in the main 10-30% but in exceptional cases up to 50% of medical products in the developing world are substandard or falsified, consequently, public health threats related to counterfeit medical products have reached alarming proportions in the developing world.
Reports from other recognized sources e.g. the United Nations (UN) Office of Drugs and crime, World Health Organization (WHO), have detailed an increasing challenge in curbing this global public health issue. (Available here). Research conducted by Anti- Counterfeiting and Product Protection Program (A- CAPPP) of Michigan State University in March 2011 revealed counterfeit medical products undermined economic systems in a myriad of ways, but mainly through:
- Lost revenues to firms that might otherwise be used to develop newer and better products,
- Lost taxes to governments responsible for public health
- Additional costs firms and governments incur to protect supply chains from counterfeit products, resulting as a disincentive to foreign investment, and ultimately ending in loss of jobs and economic opportunities
Also see The WWARN Antimalarial Quality Surveyor.
