Counterfeit Pharmaceuticals Facts & Figures
In 2009, the counterfeit pharmaceutical drug market was estimated at a value of $200 billion, more than any other counterfeit product. Unfortunately, a total of only $11.07 million worth of counterfeit medicines were seized in the United States last year, and the European Union estimates more than seven million units of counterfeit pharmaceuticals were captured by authorities. This means many counterfeit drugs continue to be sourced, bought and sold, and can taint legitimate supply chains.
Counterfeit pharmaceuticals entering the supply chain not only cut into the revenue of brand owners, potentially leading to job loss and cuts to funding and research, but also pose danger to consumers globally. Counterfeit drugs have been reported to contain inactive or substitute ingredients, leading to adverse side affects that can threaten consumer’s health. Toxic ingredients have also been used in counterfeit medicines, which can result in further medical complications with possible grave outcomes. The negative effects of this industry have increased over the past several years, nearly tripling the number of incidents involving counterfeit pharmaceuticals from 2004 to 2009.
The increase in e-commerce websites has provided an efficient way for counterfeit pharmaceutical manufacturers to advertise and sell fake drugs to consumers. As the threat to consumer safety grows, government, manufacturers and consumer advocate associations are working together to enact legislation combating illicit behavior, as well as raise awareness about the damaging effects of counterfeit pharmaceuticals.
Other Counterfeit Figures Include:
- Western Europeans spend an estimated $14.3 billion a year on illicitly sourced medicines, many of them counterfeit.
- Fake or altered anti-malarials kill an estimated 100,000 Africans annually.
- In 2009, authorities identified 808 types of counterfeit pharmaceutical products, an increase of more than 36 percent from 2008.
- Global sales of counterfeit medicines are project to reach $75 billion in 2010.
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