20% of medicines sold are fake: ASSOCHAM
The indigenous spurious medicines market has grown to Rs40bn from an estimated Rs30bn in 2005, as 20% of medicines are sold across India are fake, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM). The latest study 'Counterfeits, Spurious & Contraband Goods: Preventive & Remedial Issues, says that of the 20% fake medicines, whose sale throughout the country goes unchecked in the absence of preventive legislation, 60% are without active ingredients, 19% have wrong ingredients while 16% have harmful and inappropriate ingredients, such as talcum powder.
Counterfeit medicines in government hospitals are roughly at 38%, says the Industry chamber, adding that 35% of fake drugs sold worldwide are sourced from India. The findings of the ASSOCHAM study are to be submitted to the Ministry of Consumer Affairs and other government departments in due course.
9 January 2007