Retail News Breaks Archives
Conference to focus on counterfeit drugs
July 29th, 2010
WASHINGTON – The Partnership for Safe Medicines (PSM) plans to convene leaders from academia, government and industry in an inaugural conference on counterfeit drugs to be held Oct. 8 at the National Press Club in Washington, D.C.
The partnership, a group of over 60 nonprofit organizations and individuals committed to the safety of prescription medicines and protecting the public against counterfeit, substandard or otherwise unsafe medicines, said that the event will explore strategies and policy options to bolster consumers safeguards.
"We believe it's time to bring together the best and brightest minds to share ideas, strategies and policy recommendations to ensure public and private-sector leaders are addressing this issue effectively and head on," stated Scott LaGanga, executive director of the Partnership for Safe Medicines. "Every day, counterfeit drugs pose a significant and borderless health threat to millions of people. The more we share our best thinking on the issue, the greater our chance to extend and save lives."
The conference will examine who's profiting from the counterfeit drug trade, which segments of society are being hurt by fake medications and progress made this year in addressing the issue. PSM said the event will include three panels, an exhibit space for sponsors and a keynote speaker who will be announced closer to the conference date.
Dr. Marv Shephard, director of the Center for Pharmacoeconomic Studies at the University of Texas-Austin; Dr. Bryan Liang, executive director of the Institute of Health Law Studies at California Western School of Law and co-director of the San Diego Center for Patient Safety; and Tom Kubic, president of the Pharmaceutical Security Institute, are slated to serve as moderators for individual panels.
As the Obama administration recently cited in its Intellectual Property Enforcement Strategy, about 8% of the bulk medicines imported into the United States are counterfeit, unapproved or substandard, and 10% of global pharmaceutical commerce, or $21 billion, involves counterfeit drugs, according to PSM.
Pharmacies are also increasingly taking up the issue, the partnership noted. Earlier this year, U.S. Internet pharmacy verification and enforcement service LegitScript announced plans to provide legitimacy verification based upon National Association of Boards of Pharmacy (NABP) standards.