Medicines

Fake medicines in India constitute nearly one-third of all drugs sold every year. As per industry body ASSOCHAM study, “Fake and Counterfeit Drugs In India –Booming Biz”, the fake drugs constitute US$ 4.25 billion of the total US$ 14-17 billion of domestic drugs market. The fake drugs market is growing at the rate of 25% annuallly crossing US$ 10 billion mark in 2017.

India’s fake drug market is growing at a rate of 25% each year and is estimated to be around Rs 4000 crores. Most medicines available are either fake or of poor quality posing a serious health risk in a country where medicines alone account for over 70% of total health spending. What’s worse is that 35% of fake drugs sold all over the world come from India.

“If I have to follow U.S. standards in inspecting facilities supplying to the Indian market,” G. N. Singh, India’s top drug regulator, said in a recent interview with an Indian newspaper, “we will have to shut almost all of those.” According to Outsourcing Pharma citing the European Commission, 75% of counterfeit drugs supplied world over have some origins in India, followed by 7% from Egypt and 6% from China.

Fake drugs were not only found as popular medicines like Crocin, Voveran, Betadine, injections of calcium and syrups like Cosavil, but fake drugs are also found in life saving drug category.