Black Market Pharmaceuticals on the Rise in Western Europe
Black Market Pharmaceuticals on the Rise in Western Europe
February 17, 2010 /24-7PressRelease/ -- The EU and pharmaceutical companies are setting their sights on curbing the counterfeit and illicit pharmaceutical black market springing up on the continent.
According to the EU industry commissioner, 34 million fake tablets were confiscated at customs points over a two-month span last year, and on top of the smuggling, the European Alliance for Access to Safe Medicines says that as many as two-thirds of the medicines bought online were fake or sub-standard.
"Counterfeit medicine is costing the industry a huge amount of money but it's costing healthcare providers a lot more," Jim Thomson, chairman of the alliance told Reuters.
According to Reuters, weight-loss medicines accounted for nearly half of all online purchases, followed by prescription treatments for flu, pills for erectile dysfunction, smoking cessation drugs and painkillers. As many as 1 in 5 people in Western Europe have purchased medicines online.
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