Effects Of Medicines On The Pharmaceutical Industry

Despite lower pricing by reducing margins in the pharmaceutical industry and the demonstration that medicines can be produced locally in a number of countries, the population has massively turned to the illicit market, due to the absence of a pharmaceutical monopoly. In Burkina Faso, the illicit market accounted for 20-25% of the country s peripheral drug sales. In Benin, where the illicit market accounted for 40% of sales, 60 to 80% of the drugs were counterfeit, defects, under and overdosed products. In Guinea too, the illicit market accounted for 40% of sales. [6 Cf. ReMeD Journal, No. 22, Novembre 1999: â€Å"Marchà © pharmaceutique parallà ¨le, ventes illicites et santà © publique† : www.remed.org/Revue_ReMeD_no22_P.pdf ; Table Ronde du ReMeD†¦show more content†¦In addition, SFDA issued and executed other rules and regulations, including â€Å"Drug Supervision Administrative Penalty Procedure†, â€Å"Drug Import Export Administration Measures†, â€Å"Drug Registration Measures†, â€Å"Chinese Medicines Production Administration Measures† and â€Å"Drug Distribution Supervision Measures†. The above regulations provided legal basis for comprehensive drug anti-counterfeiting activities. Some developing countries as well as African countries should continue to improve measures to fight against counterfeit medicines such as RFID or bar codes on the packaging. However these measures all have certain limitations in implementation due to infrastructure shortage. In fact, raised awareness of patients, lower price of drugs, policy support from drug regulatory units and using effective legal tools are all effective solutions for the rampant counterfeit drugs in the market. In high risk countries, seeking closer international cooperation is an additional way to combat the counterfeits. Following economic globalization and free trade, drug industry extended to all corners of the world, drug supervision and public healthcare business became transnational. For that reason, Chinese and African governments must adjust their traditional supervision model to face the challenge, and increase internationalShow MoreRelatedCase Study950 Words   |  4 PagesQ1: Drawing on the five forces model, explain why the pharmaceutical industry has historically been a very profitable industry. 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