Egypt market is no new to the fraud products and falsification of goods. In Fact for a long time now, Egyptians are combating with the malicious practices of counterfeiting but the win nowhere in sight. No industry is safe under the attack of Counterfeiters, especially industry Pharmaceuticals, Automobile, FMCG and Electronics.
Egyptian Government Take on Counterfeiters
Counterfeited products leaves a negative impact on the lives of not just the distributors but also consumers consuming or buying the falsified products. This did lead Egyptian government to take strict measure like collaborating with Police forces to take down number of counterfeit brands. Moreover, the government’s intelligence team started out a campaign to hunt and detect these illegal activities of counterfeiting. Quoted by Ministry of Supply and Internal Trade, “There are over 14,000 counterfeit brands in Egypt, most notably clothes, cosmetics, and FMCGs (fast-moving consumer goods).” Which is a huge number to combat the threat of counterfeiting.
Though, these steps help expose operations of countless counterfeit brands but couldn’t really put an end to these activities.
Pharma Industry Counterfeiting in Egypt
Many sectors have taken a hard blow due to these malicious practices especially the Pharma industry. Duplicacy of medicines pose a greater threat in delivering high quality pharma goods which ultimately leads to longer stay in hospitals or even threat to life. The counterfeit goods are deliberately mislabelled because the original product lack tamper proof labelling.
This has seriously harm the Egyptian consumers. And in turn has led to litigation against innocent distributors and manufacturers whose names, packaging or other distinguishing features were used without authorization in the counterfeit product. The fight against counterfeiting can be won with the use of secure and trustworthy labels and protect the in infringements of intellectual property (IP) of the pharma goods. This is necessary as availability of falsified and low quality counterfeit products in a Egyptian market hinders the sale of quality and genuine products.
Things that leads to Pharma Counterfeiting
- Limited access to affordable, quality, and effective medicinal products
- Poor style of Management
- Unethical practices in health care facilities
- Growing rate of corruption in healthcare sector
- Trading in counterfeit and substandard medicines is the most profitable
- Ignoring the tracking, labeling and packaging of goods
Solution to these malicious practice
Lasersec Technologies, one of the most trusted manufacturers and innovators of Anti-Counterfeiting products has produced a technology that provide extra layer of protection to the products and it’s packaging.
One of the latest one is – VOID Labels which are extremely customizable, protects from counterfeiting and is tamper proof because of it’s secure double printing seal. These labels which affix to the products doesn’t just safeguard from Counterfeiting, they are also used as indicator of purity and integrity of the products.
Another one is – Phygital, this is no ordinary label, it’s a dual security to your Pharma products.
Deadly Combination of PHYsical and diGITAL that helps fight the falsification of drugs with 100% accuracy with this innovative technology. Added with the most secure yet tamper-evident labels to the physical form, and have QR code for digital safety.
Want to know more about the working of these products?
Happy to answer, visit at: http://lasersec.in/enquiry.html
