The Association of Industrial Pharmacists of Nigeria has decried the activities of counterfeiters of regulated drug products, saying the organised criminals have been reaping where they had not sown. Speaking at the NAIP’s 18th annual conference whose theme was, ‘Transforming the Nigerian Pharmaceutical Industry: The big picture.’ The industry chiefs said, so far, estimated profits earned from trading in counterfeit drugs was $1.77tn.

In his presentation, the Associate Vice-President, Anti-Counterfeit Co-ordination Sanofi/France, Mr. Geoffroy Bessaud, said drug counterfeiting occured at several levels, ranging from artisanal level to international organised crime networks, with the attendant loss of profit for patent owners. Bessaud noted that apart from the financial loss that licensed drug manufacturers suffer,