Fake pharmaceuticals are a $75 billion global industry
A conference at the Chatham House think tank in London is addressing the growing problem of counterfeit medicines. The World Health Organization (WHO) estimates that fake drugs account for up to half of all the treatments sold in some developing countries, putting millions of lives at risk.
The WHO claims that knock-off medicine is now a $75 billion a year industry. The problem is not confined to poor countries; one-tenth of the drugs sold worldwide are believed to be fake, with some finding their way into the U.S. and Europe .
“This poses a real threat to human health,” says Professor Martin McKee of the London School of Hygiene and Tropical Medicine. “You might be taking drugs that don’t cure the condition you have, and if it’s a life-threatening condition you might die. Or you might be taking drugs that are toxic and the ingredients that are in them may kill you. There’s also the problem of sub-standard drugs encouraging the emergence of antibiotic resistance ”
Professor McKee, who is taking part in today’s conference, argues that the boom in internet sales of medicines has fuelled the fake drug industry.
The anti-impotence remedy Viagra, when sold online, is believed to be the most counterfeited treatment.
But McKee also blames slack regulation and the globalization of the pharmaceutical business. He points out that long and complicated supply chains make it easier to get fake drugs into the system.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
