Fake pharmaceuticals form the largest segment of the global counterfeit industry
reaching an estimated USD 200 Billion out of the USD 1.8 Trillion (in value) of counterfeit goods sold every year.
The menace caused by fake medicines is growing rapidly.
Fake medicines have spread across borders – even in countries with high standards of regulation – a case in point being Germany, where authorities confiscated 4 Million counterfeit tablets in 2015. In other geographies like Africa, the share of fake medications is estimated to be as high as 70%.
Counterfeit medications have become more dangerous as they move from the realm of lifestyle medications to life-saving pharmaceuticals. Over 50% of the fake medications sold today are treatments for life threatening illnesses like HIV, Malaria, Tuberculosis, and Cancer.
The toll can be measured in human lives – over 450,000 preventable deaths due to Malaria every year are caused by counterfeit medicines.
Counterfeit medications harm the consumer in two ways – the medication doesn’t contain the ingredients that make it effective, and can often contain harmful chemicals and additives as well.
For example – fake medicines have been detected to contain rat poison or floor wax.
The impact of fake medication is slated to become another health crisis in itself.
One out of 4 physicians who responded to a survey in the United Kingdom said that they have provided treatment for patients who have suffered adverse effects of medications that they bought online, which proved to be harmful.
The key parameter for success for Counterfeiters is their ability to package products in a way that mimics genuine medications.
We can beat them using our unique and patented anti-counterfeit technologyAny consumer with a smartphone can verify their products within seconds , by simply taking a photo of the packaging.