PhRMA President Issues Counterfeit Drug Warning

Published: Tuesday, June 21, 2005 - 22:00

The recent publication of a magazine article about the growing black market for counterfeit drugs prompted the president and CEO of the Pharmaceutical Research and Manufacturers of America to issue a warning. The article, published in the June 20 issue of Forbes magazine, details the growing counterfeit drug trade, especially as it affects Medicare recipients. The article discusses substandard medication and the ability of scammers to convince vulnerable senior citizens that cheap know-off medication is just as good as the real thing.

PhRMA’s president and CEO Billy Tauzin says that American pharmaceutical companies need to continue work with U.S. law enforcement to ensure counterfeit drugs don’t make it into the United States.

“These reports are additional proof that opposing dangers ideas like drug importation is the right thing to do,” Tauzin says. “The American people should heed these warnings rather than support unsafe legislation that would allow for the importation of counterfeit drugs from abroad.”

“Overwhelmingly, Americans take for granted the safety and purity of the medicines they receive through legal regulated sources; that is as is should be,” Tauzin continues. “America’s drug safety network will be compromised if we open our borders to drugs from other countries whose regulatory systems are not as strong as ours.”

For more information, visit www.phrma.org.

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