Counterfeiting of medicines is a hugely lucrative business due to the continued high demand for medicines and low production cost. At the same time, the absence of deterrent legislation in many countries encourages counterfeiters since there is no threat of prosecution.
But fake drugs can also be tough for the pharmaceutical industry. According to a study funded by Pfizer, nearly a fifth of all Europeans polled in 14 countries had obtained medicines through illicit channels, a grey market worth over 10 billion euros ($14 billion) per year. Deloitte, however, estimates the global market for counterfeit drugs could be worth between $75 billion and $200 billion a year.
Check out this infographic to learn more about the rise of counterfeit drugs.
via Carrington College’s pharmacy technician training program
Via Economy Watch