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Pharmaceutical companies have to bear the brunt of counterfeit products released by unauthorized agents. The counterfeit market has spread like an epidemic ruining the reputation of genuine companies and hampering their revenue earning prospects. These fake medicines are released in the market at extremely low prices, and the culprits are enjoying the booming profits. The illegitimate companies assume different identities and implement strategies that make it difficult to catch them and put an end to their criminal activities. Pharmaceutical manufacturers have a lot at stake as these spurious medicines can cause ill-effects on patients. Despite taking precautionary measures and implementing anti-counterfeiting solutions, the pharmaceutical industry has been slow in stunting the growth of these counterfeit companies. The drugs go through various channels before reaching the market, making them vulnerable to unscrupulous practices in the process. To retain product authenticity, genuine pharmaceutical manufacturers, wholesalers and dealers have to unanimously enforce stringent measures to check all violations and infringement activities. There is a need for efficient monitoring of online market dealings and effective detection of fraud, which means companies need to have constant and precise information to track down the sources. Success can only be achieved when the anti-counterfeiting solutions can readily detect variations in pricing, discounts and the quantities sold. The solutions have to help identify the companies that are operating freely and impose legal actions so that their operations are discontinued permanently. One well known brand protection solution is New Momentum. New Momentum has helped companies recover revenue and restore their brand image by unearthing the counterfeit agencies. Companies have been regaining their lost grounds with New Momentum’s pharmaceutical anti-counterfeiting solutions that provide unique real-time solutions for investigation and protection. The solutions have provided rewarding results to those who have used it for tracing illegal sources and putting an end to their illegitimate sales. Despite the laws and regulations set by the government and severe penalties, the proliferation of online counterfeiting has not stopped. Now it is up to the individual manufacturers in the pharmaceutical industry to take the onus and implement strong enforcements to impede their product counterfeiting activities and make them invalid. Learn more about: Brand Protection and Sales Intelligence
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