India being one of the leading global producers of low-cost generic medicines has opened up the gates for counterfeiters making Pharmaceutical industry the most counterfeited industry in India. With the increasing trend of buying medicines online, there is a big rise in the number of online pharmacies which can be proved as dangerous trend in future if not regulated properly. Counterfeit drugs not only shrink profits of pharma companies, it also poses a greater threat to consumers causing serious health issues and can even lead to death.
It is imperative to develop and enforce appropriate mechanisms of effective collaboration between policy makers, police, customs, judiciary, manufacturers, retailers, health authorities & professionals and consumers to alleviate patient concerns and protection.
Move to curb fake drugs
India is the world’s third-largest drug producer by volume and its pharma market is expected to grow to $55 billion by 2020. To control the sale and purchase of counterfeit medicines in pharmacies and hospitals, the Union Health Ministry (UHM) plans to make barcoding mandatory on all medicines sold within India. This important step promises to ensure the authenticity of medicines.