The Extent of Counterfeiting in the Medicine Industry

Counterfeit products are never pleasant. However, especially within the medicine industry, counterfeiting can have severe consequences. People’s lives are at risk. The World Health Organization estimates that one million people die every year as a result of taking counterfeit medicines.
Besides having severe consequences for people’s lives, counterfeiting is also a key challenge for brand owners because of the threat that counterfeiting poses to their revenues and reputations. Expert in law and administration Dr. Natalia Daśko says about counterfeited medicine:

“It is estimated that the global profits from the sale of counterfeit medicines amount to 150 to 200 billion euros per year, which makes this activity the most lucrative one in the entire counterfeiting business“ 

Source: Fighting counterfeit pharmaceuticals: New defenses for an underestimated – and growing – menace; Wahl et al. 2017

The problem is indisputable and the medicine industry need to react in order to reduce the losses caused by counterfeits. Otherwise people’s lives are at risk, billions will be lost and brand value will erode.

How Valify can Help the Medicine Industry

By taking advantage of RFID technology, Valify will detect whether medicine is fake or original within a second. Valify will make it possible to reduce the damage from counterfeits to your brand considerably. Regardless of distribution channel Valify can detect counterfeits in stores, websites, marketplaces etc. This provides your company with a holistic overview of the counterfeit market in real-time, and hence the possibility to detect an react upon the most urgent problems.

Choose Between two Different Solutions

The two different solutions that Valify offers are both optimal for companies within the medicine industry. The big question you and your company have to ask yourselves, is whether you want the control to be performed by internal employees, or you want customers to be able to validate products on their own.

Regardless of your choice you will be able to detect and remove counterfeits from the market.

Customer Solution

  • Brand protection​
  • Easy validation​
  • Customer engagement​
  • 100% credible response​
  • A reliable brand​
  • Increased bottom-line​
  • Network across brands​

Internal Control / Kept Inhouse

  • Brand protection​
  • Parallel import protection/detection​
  • Intelligent control​
  • Anonymity​
  • Worlds fastest inspections​
  • Statistics & analysis​
  • Increased bottom-line​
  • Network across brands​