How labelling can help prevent pharmaceutical fraud

How labelling can help prevent pharmaceutical fraud

Wed 12th May 2021

It’s never been easier to purchase pharmaceutical drugs that were previously only available via a pharmacist. Online services of differing degrees of reputability now make all kinds of pharmaceutical products available to customers worldwide.

There are a number of inherent risks to purchasing drugs in this way, not least the lack of quality control, dosage advice and ongoing health monitoring. The number of counterfeit pharmaceuticals in circulation has never been higher.

A difficult pill to swallow: Three of the latest statistics around pharmaceutical counterfeiting.

There is a significant threat posed to the pharmaceutical industry by counterfeit drugs medicines and this could get worse unless businesses take action.

  1. Fake medicines cost the pharmaceutical sector €10.2 billion every year and 37,700 jobs in the EU alone
  2. In March 2020 Interpol seized $14 million in counterfeit pharmaceuticals across 90 countries
  3. An estimated 1 in 10 medical products in low and middle income countries is substandard or falsified

While the problem in developed countries might be limited by a strong regulatory framework and a recognised means to attain the appropriate medication via medical professionals, the problem in the developing world is even more worrying…

A developing world problem

As stated above, around one in ten medicinal products sold in low and middle-income countries are falsified. These fraudulent products sometimes contain no active ingredient whatsoever, or the wrong ingredients completely. Not only do these fail to treat the disease for which they are intended, they can sometimes actively cause harm to the patient in question.

The Covid-19 crisis has exacerbated the issue

 Across the world, the illicit online sale of antiviral products has been on the increase with authorities struggling to keep up with the deluge.

Interpol noted an 18% rise in fake antiviral medicines seized compared with previous years. Lockdowns have also disrupted supply chains for other medicines, creating a gap in the market that counterfeiters have been quick to take advantage of.

If you create pharmaceutical products there is a risk that your products could be counterfeited. If that happens it could have a detrimental effect on your brand, particularly if fake products lead to health complications for the user.

How important is the role played by pharmaceutical labelling

 Pharmaceutical labelling is your first line of defence against counterfeit products. They can incorporate several security features which make counterfeiting more difficult and provide end users with assurance of authenticity. Additionally, from a safety standpoint, clear pharmaceutical labelling ensures your products can be easily identified and correctly taken by end users.

 How can labels protect your brand?

Distinctive labelling helps to ensure that your brand identity isn’t compromised. It can contain a range of information that the counterfeiter will not have access to and can ensure that anyone who uses your brand name isn’t creating something that looks authentic.

While counterfeiting and use of your brand name may be largely out of your hands, you can ensure that there is no confusion about the authenticity of the counterfeit goods.

What do you need to know about labelling compliance?

Pharmaceutical labels are required by law to list all ingredients together with instructions for use and information about the supplying company. Some products are supplied via medical professionals, others directly to the consumer and the requirements of each differ. Either type of product is required by law to list all ingredients together with instructions for use and information about the supplying company.

At Venture we understand the requirements of pharmaceutical labelling

 Venture can create high-quality, compliant labels for your products whether they are created for clinical or consumer use. We create labels that can reduce the risk of your company becoming a victim of the counterfeiters.

If you’re looking for pharmaceutical labels contact us today for a quote.

 

 

 

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