Business Solutions

Pharmaceuticals

The Bitter Pill

The Impact of Counterfeit Pharmaceuticals, Adverse Events & Returns. In the realm of pharmaceuticals, a chilling specter haunts the industry  counterfeit drugs. Statistics reveal a haunting reality. The World Health Organization (WHO) estimates that up to 10% of drugs available worldwide are counterfeit, with higher rates in low and middle-income countries (WHO).

The impacts of counterfeit pharmaceuticals are devastating:

Public Health Risks: Counterfeit medications often lack the required active ingredients or contain harmful substances. Patients unknowingly consume these ghostly imposters, leading to treatment failures, worsening of conditions, and even fatal consequences.

Financial Losses: Pharmaceutical companies face colossal financial losses and this revenue depletion hinders investments in research, development, and life-saving innovations, limiting the advancement of medical science.

While the list of most counterfeited medications is extensive, here are some of the most commonly counterfeited therapy areas.
  •     Antibiotics
  •     Erectile Dysfunction pills
  •     Anti-Cancer medication
  •     Hypnotic and Sedative agents
  •     Anabolic steroids
  •     Analgesics/Painkillers
  •     Nervous system agents
  •     Dermatological agents
  •     VitaminsHypnotic and Sedative agents
There has been a surge of incidents worldwide in counterfeits in the pharmaceuticals industry.

 

Infographic: Counterfeit Drugs on the Rise Globally | Statista

With the outbreak of Covid this initiated sparks and a new trend in counterfeit medical items. Counterfeiters were seeking unscrupulous ways to cash on and take advantage of the high market demand for personal protection and hygiene products.

Operation Pangea XIII – LYON, France Counterfeit facemasks, substandard hand sanitizers and unauthorized antiviral medication were all seized by authorities in participating INTERPOL countries.

Global operation sees a rise in fake medical products related to COVID-19.

Let us further uncover the chilling tales of renowned brands and companies that have fallen victim to counterfeit drugs:

GlaxoSmithKline (GSK) – Fake Avastin

Pharmaceutical giant GSK faced a nightmarish discovery – counterfeit versions of their cancer drug, Avastin, infiltrated the supply chain. Investigations revealed that the fake drugs lacked the active ingredient, jeopardizing the lives of vulnerable patients seeking treatment. This alarming incident not only posed severe health risks but also dealt a heavy blow to GSK’s reputation and finances.

Prizers Fakes flooding markets

Pfizer, a renowned pharmaceutical company, has faced the haunting reality of counterfeit drugs across multiple product lines. From counterfeit Viagra flooding the market to counterfeit antibiotics undermining public health. 

Enhanced Traceability:
Dionez Fides immutable nature, every step of the pharmaceutical supply chain can be recorded, enabling transparent tracking from manufacturer to consumer. This empowers regulators, healthcare providers, and consumers to verify the authenticity of drugs and identify potential counterfeit points.

Supply Chain Integrity:
Dionez Fides decentralized architecture ensures that records cannot be altered or tampered with, reducing the risk of counterfeit drugs infiltrating the supply chain.


Patient Safety:
By leveraging Dionez Fides solutions, patients can access verified information about their medication, including manufacturing details, expiration dates, and quality assurance certificates. This empowers consumers to make informed decisions and safeguards their well-being and even report adverse events.

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