Global Trend of Counterfeiting Medicine
THE GLOBAL TREND OF COUNTERFEITING MEDICINES
The world is becoming a global village and there are emerging trends sweeping through the global community with the speed of a high magnitude tsunami. Cultures and principles are not spared as this trend emerges. The economic exigencies and demand for quality service delivery is informing some of these positive global trends. On the other hand, there is a trend that is assuming an alarming dimension borne out of greed and desire for quick money. Manufacturing and distribution of counterfeit, substandard or “fake” medicine is a monster which must be tamed.
According to (Black Law Dictionary, cited in Akunyili, 2010, p.15) the term counterfeit drug may be used to describe a drug produced by an entity other than the genuine manufacturer, by copying or imitating an original product without authority or right, with a view to deceiving or defrauding the consuming public, and then offering for sale the copied or forged drugs as original.
In this discourse, I will be examining the topic by highlighting on the global nature, health risks and economic implication of counterfeit drugs while conclusion will focus on the way forward.
The Global Nature:
Counterfeiting of drugs is not a localized threat. This trend has assumed a global dimension as there is virtually no continent, region or countries of the world that is spared of this dangerous phenomenon. Though counterfeiting of commodities cannot be said to be totally a new trend, it is rather assuming an alarming dimension. This is evidenced by the fact that there is preponderance of research work reporting experience with counterfeit drugs affecting virtually all continents of the globe. The malaise is affecting both the highly and less industrialized nations alike. The American Society of Health System Pharmacist observed in an article that “The US drug supply is purportedly one of the safest in the world and yet counterfeit medications do make their way to pharmacy
The world is becoming a global village and there are emerging trends sweeping through the global community with the speed of a high magnitude tsunami. Cultures and principles are not spared as this trend emerges. The economic exigencies and demand for quality service delivery is informing some of these positive global trends. On the other hand, there is a trend that is assuming an alarming dimension borne out of greed and desire for quick money. Manufacturing and distribution of counterfeit, substandard or “fake” medicine is a monster which must be tamed.
According to (Black Law Dictionary, cited in Akunyili, 2010, p.15) the term counterfeit drug may be used to describe a drug produced by an entity other than the genuine manufacturer, by copying or imitating an original product without authority or right, with a view to deceiving or defrauding the consuming public, and then offering for sale the copied or forged drugs as original.
In this discourse, I will be examining the topic by highlighting on the global nature, health risks and economic implication of counterfeit drugs while conclusion will focus on the way forward.
The Global Nature:
Counterfeiting of drugs is not a localized threat. This trend has assumed a global dimension as there is virtually no continent, region or countries of the world that is spared of this dangerous phenomenon. Though counterfeiting of commodities cannot be said to be totally a new trend, it is rather assuming an alarming dimension. This is evidenced by the fact that there is preponderance of research work reporting experience with counterfeit drugs affecting virtually all continents of the globe. The malaise is affecting both the highly and less industrialized nations alike. The American Society of Health System Pharmacist observed in an article that “The US drug supply is purportedly one of the safest in the world and yet counterfeit medications do make their way to pharmacy