Spain's Farmaindustria issues fake drug warning

The director general of the Spain's Pharmaceutical Industry Association (Farmaindustria), Humberto Arnes, has spoken out about the growing threat of counterfeit medicines in the developed world and which is endemic in poorer countries. Speaking at the Eighth Meeting of the Pharmaceutical Industry at the Menendez Pelayo International University in Santander, He stated that fake drugs represent 6%-8% of the global market, accounting for $30.0 billion-$40.0 billion in turnover. By 2010, this is forecast to reach $75.0 billion.

Mr Arnes said: "it is a problem that affects mainly the developing countries, where the volume of counterfeits is close to 50% of the market, but in the industrialized countries, 1% of the market can also be seen to be affected by an activity that, in addition, is on the increase."