The pharmaceutical industry is ever-growing, changing and fast-paced. It must adapt to the needs of patients, meet standards set forth by various world health organizations and comply with many international legislations. But the question is: Why does our industry need to regulate such a well-oiled machine?
The answer is quite simple. The production of counterfeit and fraudulent products is an extremely lucrative business, especially where medication is concerned. Driven by the ease of online shopping, the flattening of the world and open border policies, counterfeiting is consistently on the rise. For more than a decade, counterfeiters have built strong networks and keep taking advantage of an industry in dire need of regulations and protection. The prescription medication black market has become a global threat and continues to flood hospitals and pharmacies throughout the world, putting put many patients’ lives at risk