#StopFakeMeds #ThinkSmart
Fake and substandard medicines represent 10% of all medicines in circulation worldwide, according to the World Health Organization.
The prevalence of fake medicines can reach up to 30% or 40% of the market in certain countries in Africa, Latin America or Asia.
In terms of profits generated this represented 157 billion USD in 2022 and is expected to reach 196 billion USD in 2027*, although we may be below or beyond the reality of this criminal market.
Why are there and will there be more fake medicines in circulation?
1/ The colossal profits generated by the sale of fake medicines constitute the primary motivation for those who produce, transport and sell fake medicines.
For example, in 2013, following the counterfeit heparin scandal, the United States ordered Ranbaxy to pay a fine of $500 million for selling fake generic drugs. lepoint.fr/economie/usa-ranbaxy-va-payer-500-m-usd-pour-a…
2/ The risk of sanction is low: the production, transport and sales chains of fake medicines and the financial circuits are carefully distributed in different countries, such that criminal prosecutions run out of steam in the face of disparate national legislation, too often not applied, and the coordination of control actions requires time.
However, we are talking about criminal behavior with the clear intention of deceiving consumers.
3/ Access to consumers has increased with the Internet. Fake online pharmacies are increasing and there are no global regulations to regulate these sites**.
Informal markets are flooded with fake medicines and substandard products. It’s no better than nothing. It kills.
4/ The prices of fake medicines. In general, they are sold cheaper, or at so-called “cut” prices. The confidence of traffickers goes so far as to sell fake medicines at the price of the real one, or even at a higher price.
5/ The opportunity:
– The shortage of authentic medicines is an open door to the infiltration of fake medicines to meet demand;
– Health crises like COVID. Capable of quickly adapting to demand, fake treatments and medical devices (tests, gloves, masks) have invaded the Internet and markets.
The experience of fighting against fake medicines has taught me that, despite the action of States, that of the private sector, and that of international organizations to stem this scourge, fake medicines continue to surge.
Everyone’s vigilance has an impact on everyone.
*Global pharmaceutical spending is expected to reach $1,967 billion worldwide in 2027, including $50 billion on Covid-19 vaccines and treatments, an increase of $393 billion compared to estimates for 2022; 1,574 billion in spending, including 92 billion devoted to Covid-19. Ref – IQVIA Institute 2023 Global Medicines Use Report.
**This will be the subject of a specific episode.
