The challenge of curbing counterfeit prescription drug growth: Preventing the perfect storm

Peggy E. Chaudhry and Stephen A. Stumpf

Business Horizons, 2013, vol. 56, issue 2, 189-197

Abstract: The recent case of fake Avastin® brought the problem of counterfeit pharmaceuticals to the forefront of illicit trade. Drug counterfeiters are opportunistic criminals motivated by the windfall profits that are realized from selling fake pharmaceuticals with limited legal penalties. This article describes the interrelated trends that may trigger a catastrophic situation of counterfeit drugs infiltrating the global pharmaceutical supply chain—a ‘perfect storm.’ We discuss the failure of policymakers to note the early warning signs and the ease of penetrating the pharmaceutical supply chain—both physically and virtually—by an array of illicit traders, ranging from small cottage operations to full-scale manufacturing facilities; the recent U.S. legislation enacted to curb growth in counterfeit pharmaceuticals; and the proliferation of national, multilateral, and industry-led agencies to protect the prescription drug supply chain. Finally, we conclude with an analysis of anti-counterfeiting tactics (e.g., consumer education campaigns, authentication technology) developed by various stakeholders.

Keywords: Counterfeit pharmaceuticals; Intellectual property; Illicit trade; Internet pharmacy; Anti-counterfeiting strategy (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:56:y:2013:i:2:p:189-197

DOI: 10.1016/j.bushor.2012.11.003

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