As reported by Business Insider, a new report by the Fraser Institute warns that counterfeit pharmaceuticals present a real risk to Canadians.
The study, authored by Fraser Institute senior fellow Kristina Acri, estimates that globally, counterfeit drugs are a $200 billion a year industry, with trade in just Canada possibly worth up to $89 million each year. The majority of counterfeit drugs do come from illegal or poorly regulated internet pharmacies and criminal organizations, but the instances when counterfeit drugs have made their way into Canadian brick-and-mortar pharmacies should give everyone reason to pause. Acri warned that “…no medicine is immune, and the consequences can be deadly.” She added that “Canadians must be aware of the risks of counterfeit pharmaceuticals when purchasing prescription drugs from any venue.” The report recommends that one of the most effective ways to stop counterfeit drugs is for Canadian lawmakers to increase penalties for counterfeiters and to create treaties with other countries targeting the counterfeiting trade.
The Fraser Institute is an independent, non-partisan Canadian public policy think-tank. Their mission is to improve current and future Canadians’ quality of life by studying, measuring, and raising awareness of the effects that governmental policies and practices have on their well-being. The full report can be read here.