Each year, pharmaceutical companies are losing billions of dollars due to stolen or counterfeit products. Several reports have estimated that in 2016 alone, the international trade in counterfeit drugs generated revenues worth $ 4.4 billion. More than six (06) years have passed, and the number does not seem lo get any lower. Pharmaceutical companies and regulators are seeking to implement working systems that would prevent such fraudulent activity, as it causes harm not only to the manufacturers but also to patients who consume unauthorized and counterfeit drugs, leading to severe or even fatal events. A compliant track & trace (T&T) system and serialization of the produced pharmaceutical and generic goods are the key routes to tackle this issue.
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