Exporting fake medicines
According to an article by Bloomberg, Viagra is one of the main pills to be made illegally. As China is working to crack down on its counterfeit industries, it has raided more than 115 factories and jailed eight sex-pill makers this month.
China is the world’s fastest growing pharmaceuticals market—that’s not including the fake market, which generates about three billion U-S dollars each year. Now while less than one percent of drugs produced in developed markets are counterfeit, the World Health Organization says that percentage in many developing countries can be as high as 30%. What makes China more unique though is that about 40% of these fake medicines get exported. Experts say the government’s desire to consolidate the market, combined with online sales and a growing health-conscious middle class are all allowing for counterfeit producers to pop up.
Broadcasted by: Biz Wire: Nov. 18 BON TV Blue Ocean Network