There Are Many Ways to Make Money in the Drug Business

In the current Foreign Policy Roger Bate discusses the growing market for fake drugs. He thinks that annual sales of fake drugs is approaching $70 billion a year. The business is moving from making 'lifestyle drugs' (e.g., Viagra) to making drugs that supposedly treat major problems, such as cancer. One of the biggest benefits to the fake drug business in recent times is the rise of the web. The World Health Organization (WHO) thinks that half of all drugs bought over the web are not what they are purported to be. The two countries that are industry leaders are China and India. WHO estimates that 20% of all drugs used in India are counterfeit.

While WHO and others are well aware of the counterfeiting, little is done to combat the problem. Governments deny that their citizens are producing the fake drugs. Drug companies don't want to make noise about it as this may negatively impact their sales. In the meantime, people die from these fakes. Bate estimates that 1,000,000 die each year.