Counterfeit medicinal products are a threat to the health and safety of patients around the world. They range from drugs with no active ingredients to those with dangerous impurities. They can be copies of branded drugs, generic drugs or over-the-counter drugs.
Counterfeiting groups thrive in countries where the anti-counterfeiting laws are weak; the drug regulatory agencies are underfunded and under staffed; and legal sanctions are ineffective.
In assessing these illegal operations, it became clear that the counterfeiters often copied pharmaceutical products of many manufacturers and there was a need to improve information sharing.
Meeting the Challenge
In 2002, the Security Directors from fourteen major pharmaceutical companies established the Institute in Washington, D.C. Working with its members, PSI developed improved systems to identify the extent of the problem and to assist in coordinating international inquiries.
Today, PSI membership includes thirty-seven pharmaceutical manufacturers from many nations. The Institute established representational offices with staff in Miami, Florida; Singapore; and Stockholm, Sweden.