Rise of Counterfeits

11 01 2011

This news doesn’t seem very promising at all or happy for that matter. Counterfeits are expected to reach the highest rates this year in 2011. This shouldn’t be too much of a shock though. As technology expands, intellectual property seems to suffer more.

According to a survey conducted in October 2010 by Pharma IQ, 61.5 percent of the 1,000 pharma anti-counterfeiting specialists surveyed found that the threat of counterfeit pharmaceuticals this year is more severe than ever before and about 53 percent of them claimed that they will make plans to increase their budget for investment in the anti-counterfeiting sector. A little over half of those surveyed stated they liked their current anti-counterfeiting technology and more than 23 percent admitted that they weren’t content with their current technology. While 84 percent said they were looking to invest in new ones.

The pharma industry seems well optimistic of the future, despite these troubling statistics. More than 85 percent are optimistic that the industry will win this war.  The survey was conducted as pre-research for a conference on pharmaceutical anti-counterfeiting, which will take place in February in Amsterdam.

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