UAE STRIVES TO CURB COUNTERFEIT TRADE
The United Arab Emirates (UAE) is to pass new legislation aimed at curbing the growing problem of counterfeit drugs. Under the new laws, pharmacists distributing counterfeit medicines will face between two and three years in jail. Currently, pharmacists caught distributing copy drugs are only subject to having their license revoked or suspended.
However, these measures are unlikely to significantly halt the illicit trade, as they will only be applicable to pharmacies and vendors licensed by the Ministry of Health. Only 10% of counterfeit drugs in the UAE are sold through pharmacies.
In recent years, the UAE's counterfeit drugs market has thrived due to high medicine prices and lax enforcement of patent legislation. The US has called for the UAE to tighten its patent law and implement a fair pricing structure for US companies before it will consider a Free Trade Agreement between the countries.
The World Health Organisation (WHO) estimates that the counterfeit drug trade was worth around US$34bn in 2001, accounting for around 15% of total drug sales. WHO reports claim the top selling illegal copies in the Middle East are generally for conditions with social stigmas, such as erectile dysfunction. In poorer areas of the world, antibiotics are the most commonly counterfeited medicines.
Upcoming Events
-
21Oct