November 1st, 2016

Counterfeit Drugs cost Europe more than €10 Billion a year

The economic cost of IPR infringement in the pharmaceutical industry underscores the serious public health threat posed by counterfeit medicines. Estimates suggest that 10% of all medicines supplied globally are falsified. The report further estimates that counterfeiting costs the pharmaceutical industry and Europe more than €10 billion each year and may result in the loss of up to 40,000 direct jobs. Taking into account the broader and indirect effects of counterfeit pharmaceuticals on other sectors, this translates to a negative impact of over €17 billion and 90,000 job losses.

Source : Counterfeit Drugs Cost Europe More Than €10 Billion a Year (3/10/16)