The Intellectual Property Office of the Philippines (IPOPHL) has signed a memorandum of understanding (MOU) with the Pharmaceutical Security Institute (PSI) to help in arresting the alarming rise of counterfeit medicines in the country.
IPOPHIL said in a statement preliminary data from the National Committee on IP Rights show that seized pharmaceutical and personal care products totaled P29.04 million from January to July this year from P1.46 million in the comparable period in 2020.
IPOPHL said the MOU will provide the framework for the capacity building, awareness and exchange of information relevant to curb the sale, supply and consumption of counterfeit medicines and pharmaceutical products.
In May 2021 alone, the International Criminal Police Organization seized $23 million counterfeit and illicit medicines and medical products, with unauthorized new coronavirus disease 2019 testing kits accounting for more than half.
Todd Ratcliffe, PSI president and chief executive officer noted the urgent need for international-scale collaborations, amid global challenges of underfunded investigative groups on counterfeiting and the low prioritization of such cases in other enforcement authorities despite its grave threat to public health and safety.
Ratcliffe warned that counterfeiting has been seeing “a drastic shift” in the past six years from lifestyle drugs, like weight loss steroids, to life saving drugs, such as cancer medications, where more profit can be made.
The PSI is a non-profit, membership organization dedicated to sharing information on the counterfeiting of pharmaceuticals and initiating enforcement actions through the appropriate authorities.
With 37 pharmaceutical manufacturer-members from various countries, the Virginia-based PSI runs representative offices in Miami, Florida, Singapore and Stockholm.
