Government Regulations Essay Example | Topics and Well Written Essays - 2250 words

Government Regulations - Essay Example Pharmaceutical counterfeiting is an age-old problem. Counterfeit drugs are readily and cheaply available in need. Patients can't differentiate in between the fake and real drugs and fall easy prey to the counterfeiting. Counterfeit drugs pose health problems to public. It is necessary to prevent these fake drugs to enter the drug supply chain to become legitimate. The legitimacy has to be broken by attacking the chain and identifying the culprits. Through strict regulations, a relatively comprehensive system of laws, and enforcement by Federal and state authorities has kept drug counterfeiting rare in United States. Recently it is gradually raising its head again. Most of the countries worldwide could not fight the menace effectively.. This has put the genuine drug companies, wholesalers and retailers into big loss. Many that are involved in shady deals have to face legal actions and punishments. It is through accepting the problem, going into the depth and abiding by the government regulations firms in drug dealing and manufacturing could take strategic decisions to get rid of the problems. Strategic decisions by pharmaceutical companies in cooperation with FDA have been taken in USA to develop comprehensive framework for pharmaceutical supply chain to secure against threat of counterfeiting in drugs. Multinational pharmaceutical companies are developing inter-firm cooperation with supply chain and partnering with government and health advocates to work on the new methods to fight the problems. Track and trace method with the help of new technology of Radio frequency Identification (RFID) has been adopted to foil counterfeiting in drugs. The RFID would enable to tag all products by manufacturers, wholesales, and retailers which can't be altered easily and be verified when required with authentication It will make copying of medicines either very difficult or very costly to deter counterfeiting. Many other authentication technologies such as holograms,