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InfoSec Conference Summary
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The pharmaceutical industry has an array of duties of keeping up with research and technology as well as the unbridled counterfeit products that can thwart the efforts. The snide, intended to mimic the genuine products, have in many cases led to lack of effective healing, adverse reactions and now the diminishing confidence in medicines and the general healthcare systems and the providers of the same.
With sales ranging from €150 – €200 billion which is US$163 billion – $217 billion every year, as indicated by industry estimates, fake pharmaceuticals are the most lucrative segment of the worldwide exchange illicitly replicated merchandise. World Health Organization (WHO) approximates 30 percent of drugs that reach developing nations are counterfeit and this can have substantial effects for the brand as well as on the patients. Dealing in counterfeits is a criminal offense that not only harms legitimate businesses but also leaves consumers with sub-standard goods that are often precarious.
Thus Counterfeit medicines are turning into a serious concern around the globe, and have progressively been showing up through the real pharmaceutical supply chain, including community and online drug stores. What’s more, is that pharmaceutical regulators and companies are creating ways to stop them. No nations stay untouched by this issue, what was once viewed as an issue endured by developing nations has now turned into an issue to developing nations including the US and Europe. It requires both countrywide and industry-level participation, and in addition private and public sector coordinated effort, to identify and definitively battle counterfeiters.
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. In the US, lot- level traceability started in January 2015 under the act with package-level serialization to be finished in November 2017. The complete supply chain is relied upon to be electronically incorporated and all hubs of traceability to be built up by November 2023. The E.U.’s Falsified Medicines Directive requires drug companies to adopt mass serialization and other anti-counterfeiting measures starting in 2019. Manufacturers who operate in the E.U. will have to add unique identification numbers to the outer packaging of all prescription drugs and equip containers with tamperproof seals. To guide customers from illicit online drug stores that supply fake medications, the FMD requires approved legitimate Internet drug stores to show a logo distinguishing them as E.U. approved drug retailers.
To protect your brand and build a genuine future, Corvus Global Events is inviting you to attend the Pharma Security World – An Anti-counterfeiting & Brand Safety Conference, which will have Pharma industry professionals sharing different challenges faced, new strategies, case studies and use of innovative ideas and the conference will also offer opportunities to encourage partnerships and collaborations.