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InfoSec Conference Summary
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The importance of the pharmaceutical industry in the modern-day Asian society cannot be overstressed especially as there are new diseases springing up from different areas, strengthening the importance of adequate drug research and development activities. However, with the growth of the industry in Asia comes the increase in fake drugs. In recent times, these products are still being produced and passed down to consumers in large quantities amidst the impact of the various counterfeiting hubs that have been seen to operate on a global scale. According to World Health Organization (WHO), about ten to thirty percent of the pharmaceuticals distributed to most third world countries are fake and this industry is growing at an alarming rate, even faster than legitimate pharmaceutical companies raking in about $217 billion yearly in sales.
The geometric growth of the counterfeit pharmaceutical industry in Asia is a major source of global concern. Fake medications are known to contain high levels of arsenic, pesticides, heavy metals and even printer ink etc. and also are infused with the wrong amounts of the active ingredient needed for the desired effect. These products usually have fake, or rough packaging or wrong expiry dates.
A lot of international experts have warned of the looming health due to the large influx of fake pharmaceuticals; thus, leading to more complex health issues with time.
One of the major ways by which these fake drugs are circulated globally is through the growth of online drug websites. This helps the sales of unregulated and unscreened drugs directly to customers. According to the United Nations office of drug and crime, Asia is the continent with the largest portion of the trade in fake pharmaceuticals and is also the major source of this menace globally. No nations stay untouched by this issue that was once viewed as an issue endured by developing nations has now turned into an issue to developed nations including US and Europe. The US is driving the path with the Drug Supply Chain Security Act (DSCSA) approved in 2013. DSCSA guide for end-to-end traceability is extended over a period of 10 years, with expectations sketched throughout the supply chain. We require both countrywide and industry-level participation, and in addition public and private sector coordinated effort, to identify and definitively battle counterfeiters.
In addition to this, technologies play a crucial role to spot the fake channels and drugs by increasing the security and visibility throughout the supply chain. Thus, with technology integrated into the pharmaceutical industry it makes it easy for health organizations to keep track of the global circulation of drugs.
To protect your brand and build a genuine future, Corvus Global Events invites you to Pharma Security Asia 2019 – An Anti-counterfeiting, Brand Safety & Serialization Conference, which will have Pharma industry experts sharing various challenges faced, new strategies, case studies and use of innovative ideas and the conference will also offer opportunities to encourage partnerships and collaborations.