First European Parliamentary symposium on pharmaceuticals targets fake drugs

The European Parliament hosted its first symposium on pharmaceuticals on the theme of: Putting an end to Drug Counterfeiting," assembling European policy makers, regulators and specialists in counterfeiting and the drugs trade, at the Brussels, Belgium, EP building.

The event was welcomed by the branded drug manufacturers, which are concerned about the infiltration of the distribution chain by counterfeiters. However, representatives of Europe's legal parallel trade firms expressed "disappointment" at not being invited to the event, reinforcing their suspicions that drug majors are exploiting the security issue to justify anticompetitive pressure on distributors that exploit price differentials between European Union member states.

The European Association of Euro-Pharmaceutical Companies said it "strongly welcomes" the symposium, adding that "it is crucial to bring together industry stakeholders, regulators and policymakers in an effort to explore ways of reducing the risk of counterfeits reaching the European patient."