Fake Drugs: Are the consumers aware about available authenticating alternatives?
The global anti-counterfeit packaging market is expected to be worth US$79.3 billion by 2014, growing at an estimated CAGR of 8.6 percent from 2009-14. At the same time, India as one of the world's leading producers of drugs by volume and increasingly being identified as the drug manufacturing hub for the rest of the world, faces a huge threat by the circulation of spurious medicines being produced by the counterfeit mafia. Therefore, the protection against the fake medicines becomes an important issue in a country like India, where huge number of population suffers from various ailments.
Working in this direction, PharmaSecure is the market leader for mobile authentication technology that empowers the end consumer to check and authenticate his own medicine by SMS, voice or web. Each medicine package coded by the company has a unique, randomly generated alphanumeric code printed directly on the package. When a consumer sends this code by SMS (voice or web), a message comes back verifying the medicine is genuine.
Within a short span of three years, the company has become the preferred protection partner for over fourteen reputed pharmaceutical manufacturers in India. Today, PharmaSecure solutions have been deployed for manufacturing lines in plants across 35 different geographical locations. The company is known for its accuracy, speed and hassle free integration which has taken the company to newer heights.
"PharmaSecure's mobile authentication technology empowers the end consumer to check and authenticate his own medicine at an affordable cost of an SMS, or through pharmaSecure portal/call center," explains Mr Kishore Kar, vice president, sales and marketing. "This service is easy for the consumer and a simple, but effective solution for manufacturers. With increasing mobile use and growing consumer awareness levels, a solution like mobile authentication has huge potential in India and we are very happy to be the pioneers working in this direction of protecting consumers from counterfeit products. PharmaSecure consistently works towards innovating newer technologies/value additions that enhances the way an average Indian consumer looks at his/her medicine. One such initiative in this line was introduction of psConnect last year. This solution offers build-in medicine refill reminders and daily dosage consumption reminders."
Mr Kar added, "PharmaSecure through its solutions has opened a channel of communication between consumers and manufacturers. Today, a consumer not only looks at the medicine he/she is consuming but is equally aware of other important aspects including the parent manufacturer."
The unique technology of pharmasecure is also being endorsed by several health care practitioners who includes professors and doctors and also from many industry professionals into healthcare. One of the leading orthopedic surgeon from Gurgaon, Dr Ravi Sauhta claims that the service offered by pharmasecure has helped him to offer lot of ways by which he can help his patients to engage in communication to keeps oneself healthy and learns ways to prevent getting trapped to common diseases post-surgery.