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The global problem of counterfeit medicines costs pharmaceutical companies close to US $300 billion annually, as well as costing hundreds of thousands of patients' lives each year.
Currently pharmaceutical companies are being sold the idea that expensive, high technology solutions on their own will stop counterfeiting and save lives. In our view and the views of experienced and respected brand security experts and those in law enforcement, digital tools on their own cannot solve the problem.
Make no mistake, we believe digital solutions have an important part to play in the authentication of genuine product, however, they cannot and do not offer the instant authentication that users need and will work literally anywhere in the world, regardless of the availability of high technology.
In our view it is a combination of technologies both digital and analogue that delivers the kind of robust solution that makes authentication instant and easy, while making life so difficult for counterfeiters that they divert their attention elsewhere.