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The challenge of curbing counterfeit prescription drug growth: Preventing the perfect storm

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  • Chaudhry, Peggy E.
  • Stumpf, Stephen A.

Abstract

The recent case of fake Avastin® brought the problem of counterfeit pharmaceuticals to the forefront of illicit trade. Drug counterfeiters are opportunistic criminals motivated by the windfall profits that are realized from selling fake pharmaceuticals with limited legal penalties. This article describes the interrelated trends that may trigger a catastrophic situation of counterfeit drugs infiltrating the global pharmaceutical supply chain—a ‘perfect storm.’ We discuss the failure of policymakers to note the early warning signs and the ease of penetrating the pharmaceutical supply chain—both physically and virtually—by an array of illicit traders, ranging from small cottage operations to full-scale manufacturing facilities; the recent U.S. legislation enacted to curb growth in counterfeit pharmaceuticals; and the proliferation of national, multilateral, and industry-led agencies to protect the prescription drug supply chain. Finally, we conclude with an analysis of anti-counterfeiting tactics (e.g., consumer education campaigns, authentication technology) developed by various stakeholders.

Suggested Citation

  • Chaudhry, Peggy E. & Stumpf, Stephen A., 2013. "The challenge of curbing counterfeit prescription drug growth: Preventing the perfect storm," Business Horizons, Elsevier, vol. 56(2), pages 189-197.
    • Handle: RePEc:eee:bushor:v:56:y:2013:i:2:p:189-197
    DOI: 10.1016/j.bushor.2012.11.003
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    References listed on IDEAS

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    1. Alan Zimmerman & Peggy Chaudhry, 2009. "The Economics of Counterfeit Trade," Springer Books, Springer, number 978-3-540-77835-6, September.
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    Cited by:

    1. Chaudhry, Peggy E. & Cesareo, Ludovica & Pastore, Alberto, 2019. "Resolving the jeopardies of consumer demand: Revisiting demarketing concepts," Business Horizons, Elsevier, vol. 62(5), pages 663-677.
    2. Chaudhry, Peggy E., 2017. "The looming shadow of illicit trade on the internet," Business Horizons, Elsevier, vol. 60(1), pages 77-89.
    3. Pittiglio, Rosanna, 2023. "Counterfeiting and firm survival. Do international trade activities matter?," International Business Review, Elsevier, vol. 32(5).
    4. Nnanna P. Azu & Philip A. Nwauko, 2021. "Evaluating the Effect of Digital Transformation on Improvement of Service Trade in West Africa," Foreign Trade Review, , vol. 56(4), pages 430-453, November.
    5. Wilcock, Anne E. & Boys, Kathryn A., 2014. "Reduce product counterfeiting: An integrated approach," Business Horizons, Elsevier, vol. 57(2), pages 279-288.

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