Consumer News

Pharmaceutical companies worldwide are now experimenting with new technology that could help battle the mass amounts of fake drugs that have been surfacing in America in recent months.

The companies decided to take action after it was revealed that the medication, Lipitor, was counterfeit and, as a result, caused the largest drug recall in American history.

The Fake Business

After conducting 54 investigations last year, the World Health Organization and the FDA claim that the amount of fake drugs on the U.S. market almost doubled in 2005.

The agencies claim that selling and producing fake medications is a $32 billion business.

Ernst & Young, one of the world's largest accounting and consulting firms, says that importers such as India and China are responsible for the tainted products that have been marketed and sold throughout the U.S. in recent months.

Investigation Led by FDA

The senior pharmaceutical analyst for Ernst & Young, Jeff Steinberg, and his colleagues, recently took a trip to Asia to do a report about counterfeiting world for one of their largest clients.

“People were selling fake Viagra on the street. It's unbelievable,” explained Steinberg. “The statistics keep getting bigger and bigger. It's got people thinking this is really a huge issue.”

Small Wholesalers Serve as Target

Reports claim that drugmakers, Congress and law enforcement agencies have long been concerned about the small wholesale businesses that are being targeted by counterfeiters.

Counterfeiters have been using fake drugs with phony paperwork and realistic packaging in shipments en route to larger pharmaceutical companies.

Warning Against Internet Purchases

Mail-order purchases by Americans have also proved to be risky.

MarkMonitor recently conducted a study, which tracked online brand abuse and discovered that only four of 3,160 online pharmacies were legitimate.

(Source: The Republican)

Have you or a loved one been harmed by a counterfeit drug? Contact us to speak with an experienced attorney who will enable you to get the compensation that you need and deserve.