Recently, Phil Taylor – Editorial Director for SecuringIndustry.com, published an article titled “Pharma has 'little appetite' for more anti-counterfeiting.”
In that article, Mr. Taylor very clearly points out that based on a study published by PwC's strategy consulting business strategy and pharma execs are not inclined to invest more in measures to fight counterfeit drugs even though they are aware the trade is growing and current efforts don't go far enough. The primary reason for not wanting to invest more isn’t that they believe they’ve done enough and it simply cannot be improved or defeated; it’s because they’ve spent so much time and energy on mandates.
Per the study, the trade in fake pharmaceuticals is the most lucrative sector across the counterfeit market, with sales of bogus drugs reaching $200 BILLION annually. Clearly, there is contradiction and a problem here. The appetite to fight wanes, but the counterfeiter’s hunger grows. Between mandatory serialization programs and the growth of special inks, seals, etc., the number of items additive to packaging has grown tremendously. But the problem not only persists, it grows.
It grows in part because the counterfeiters are smart and can duplicate these technologies, thereby making it very difficult to determine the real ones from the fake ones. Anti-counterfeit measures are still needed due to the significant problem of counterfeit medicines hitting the market. But how can executives justify investment in new anti-counterfeit technologies?
A new approach to the technology is needed. An approach that cannot be detected and therefore cannot be reverse engineered, but provides granular, item level distinction and the basis for trusted authenticity. Once there is uniqueness, you can have trusted authenticity. With trusted authenticity comes visibility and analysis which is the basis of brand protection. Consider the possibilities of changing this entire anti-counterfeiting battle without changing anything on the package at all. What if your existing packaging could transform itself into a powerful anti-counterfeit solution?
Imagine if you could Make Your Current Package or Label ‘Smart’ and Able to Communicate