Did you know both antibiotics and anti-malaria treatments are the most counterfeited products in the world? This issue is not slowing down; fake or counterfeit medicines continue to be a serious problem across the globe. As a company committed to drug safety, AlpVision continues to work with their partners in the pharmaceutical industry. Together, we are fighting for a safer market.
In order to further help our partners during this worldwide crisis, AlpVision launched the covid-19 initiative, ending on January, 31st, 2021. It supported pharmaceutical companies by providing them, at no cost, with the necessary tools to protect relevant coronavirus medicines and vaccines against counterfeiting.
Where do we find counterfeit medicines?
Analysts estimate that around $200 million worth of counterfeit pharmaceutical products are sold annually worldwide. The pharmaceutical industry is listed in the top 5 of the industries most impacted by counterfeit medicines.
These fake drugs are, unfortunately, available everywhere but mainly:
- Online
- In street markets
- In pharmacies
- In some hospitals
Even though generic medicines are available at a competitive price, these products are also counterfeited. They are often still successfully sold as the genuine article.
Consequences
The consequences of counterfeit pharmaceutical products create unprecedented economic challenges. African markets have been hit particularly hard with large scale attacks by counterfeiters, causing various public health crises. However, the issue is not limited to Africa alone, with many markets being infiltrated by unsafe counterfeit products.
Frequently we see that counterfeit medicines are made without regulation. Toxic elements may be added with little concern of the potential harm they may cause. Profit is the aim of counterfeiters and corners may be cut to achieve this. Counterfeit products do not go through a rigorous trial period either. Allergic reactions are but the tip of the iceberg in terms of potential ramifications for consuming such products.
It is not only the user who may be affected by counterfeit products. Reputations are put on the line when a company’s image is put in the hands of criminals. Either through scandal or word of mouth, a product may become discredited if a counterfeit product is presumed real, with consumption causing a myriad of issues. Consumers would choose rather to put their health in the hands of another company than continue to consume a presumably unsafe product.
How to find the best security solution For you ?
Finding the best protection for your product is no easy task. Many solutions are available on the market and it is imperative to find the one most adapted to your needs. Many factors should be taken into consideration. You should first have an idea of what you are looking for. For instance, if you would like a covert or an overt solution.
If you would like more information on how best to choose protection for your product, we have a useful article on our blog. This article will help you find an authentication system adapted to your specific needs. If you are interested in knowing more, click the link here.
Brand protection & benefits
Implementing such a security feature on your product would require some additional cost. Yet the knowledge that your product is protected again counterfeiting is invaluable, not only for your brand, but also for your customer. Anti-counterfeiting technologies prove their worth further when looking at their paired usage with statistical data platforms. Together, companies have the chance to not only track usage of their product, but also to analyse patterns of use that may seem unusual or fraudulent. These technologies can be made available both to your customer, and for use in-house. Again, it depends on the needs of your company.
Alpvision solutions
Despite AlpVision’s Covid-19 initiative coming to an end, it is still possible to protect your pharmaceutical products without the need to change any part of the packaging or the product aesthetically.
One such solution we suggest is called Cryptoglyph®. This technology is adapted for printed products such as folding cartons, labels, and blisters. Find out more about our pharmaceutical protection by clicking the link here.
We also suggest the technologies, Fingerprint. These solutions, are dedicated to physical products such as syringes, vial flip off-tops, or bottle caps.
Both technologies are invisible and detectable with a dedicated smartphone application iOS or Android. The authentication is intuitive and takes less than 3 seconds. Moreover, a statistical data platform called “Brand Monitoring System” will provide you valuable information about each authentication. Our turnkey solutions are entirely customizable. Please contact us.
The final word
Counterfeiting persists as an issue that impacts all industries around the world. Indeed, there are laws and restrictions in place to combat it. However, when counterfeiters are determined to profit in both grey and black markets, laws are often ignored or bypassed. It is imperative to add a second layer of protection. At AlpVision, our technologies not only protect your packaging or product, but also allow you to track and trace potential instances of counterfeiting.
We would be glad to support you in choosing an authentication solution that perfectly matches your product. Do not hesitate to contact us to know more about our anti-counterfeiting technologies.