Fake drugs market taking shape of organised crime: CBI

Fake drugs market in India is taking shape of transnational organised crime which may adversely affect the economy, CBI Director Anil Sinha said here today.
Rs 27.6 crore fake drugs market may not be an alarming situation but it cannot be ignored as it is slowly taking shape of a transnational organised crime, Sinha said here at the inauguration of the first Indo-French workshop on 'Combating Counterfeit Medicine'.
He said that in the last two decades, the Indian pharmaceutical industry has achieved a positive trade balance in the export market, which initial estimates put at around USD 9 to 10 billion.

As designated National Central Bureau of India, CBI is ever willing to assist the agencies in the country and abroad in combating transnational crime, Sinha said.
"Under the aegis of Central Drugs Standard Control Organisation, a systematic study was carried out to assess actual extent of spurious drug circulation in India. It was concluded that the extent of spurious drug in retail pharmacy is only 0.046 per cent," the CBI Director said.
According to industry estimates, the Indian pharma sector is worth USD 20 billion of which nearly half is exported. The retail market is of about USD 10 billion which means the fake drug market is worth Rs 27.6 crore.

Sinha said according to an estimate of Interpol, fake medicine kill more people in an year than those who have died in the past 40 years as a result of terrorism.
"Though the problem in India has not reached an alarming proportion, nevertheless we cannot ignore this global menace, which is slowly taking the shape of a transnational organised crime," he said.