Counterfeiting of Medicines as a Violation of Intellectual Property Rights

Counterfeiting of medicines and money are one of the major issues which affects economy at large. A counterfeit medicine or drug is a pharmaceutical product that is manufactured and sold with the goal of misrepresenting its origin, validity, or effectiveness by using the incorrect or non-existent active component. These are the global issues which not only affects in a direct manner but indirectly as well. counterfeiting of medicines is a growing phenomenon which has to be critically analyzed because this is the major issue which leads to numerous health problems and the area of my concern which I want to show through my research is the problems related to the trade as a violation of intellectual property rights by supporting the case laws related to medicine counterfeiting. In this research paper, I will be highlighting some initiatives taken by public and private sector to overcome such problem, the roles and functions performed by the pharmaceutical society which commonly includes pharmaceutical manufactures, wholesalers, retailers and entire chain. Last but not the least, in this paper I will be addressing the question that why do people buy counterfeit drugs and why does intellectual property protection matter to the pharmaceutical industry.