Establish “authentication empowerment” with an end-to-end, customized program that instantly authenticates suspicious medicines, when and where it matters most.
By: Chad Crouch, Vice President of Sales, Authentix, Inc.
If you doubt that the counterfeiting of pharmaceutical medicines is a monumental problem, take a look at these statistics: counterfeit pharmaceuticals are now a $200 billion annual business, and about one million people die each year after taking counterfeit pharmaceuticals.1 It’s a big problem and isn’t going away anytime soon. It’s extremely profitable—that means it has attracted some pretty sharp individuals who can match your product packaging in a blink of an eye. So, if they haven’t hit your company yet, chances are they will try real soon. Be prepared for when that happens.
Without an authentication solution in place, you’ll find that the costs of resolving such an incident are unpredictable and unbudgeted. You won’t have processes in place to deal with counterfeit products that weaken your supply chain and have unclear consequences for your distribution chain. And the various departments within your company will not know how to coordinate efforts to combat the counterfeiters. In a word, you’ll have no checks and balances in place.
The good news is, you and your company don’t have to live that way. If you find the right authentication partner, and together plan and implement an end-to-end, customized solution to deal with counterfeiting, it can be a productive relationship. Instead of reacting to incidents, you’ll be proactive, with a wealth of tools already in place to take on the bad guys:
- Financial resources will already be allocated
- Authentication processes will instantly act on suspicious medicines
- Supply chain will be stronger
- Distribution chain more transparent
- Internal departments will be empowered to act in concert and get a handle on the problem
If you make the right move and choose the right authentication partner, then work together to develop and implement the right authentication solution for your company, here’s what you can expect to see moving forward:
- Improved analysis of suspicious medicines and packaging
- Rapid matching of samples against your predetermined standard
- More secure supply chain with process improvements/improved visibility in upstream and downstream directions
- Internal processes understood and monitored
- New sources of data developed that fuel ongoing process improvements
Don’t let the pharmaceutical counterfeiters make your company their next victim. By acting instead of reacting, you can stay one step ahead of the bad guys. The best way to act is to implement an end-to-end authentication solution that’s customized to meet the unique demands of your organization. Contact us to become your company’s authentication hero today.
- Fighting counterfeit pharmaceuticals: New defenses for an underestimated – and growing – menace, Peter Behner, Dr. Marie-Lyn Hecht, Dr. Fabian Wahl, 201