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Virtual Seminar: Fight against Counterfeit Medicines by means of IP Enforcement

IP Key LA is opening registration for a virtual seminar on 20 October focused on the fight against counterfeit medicines by means of IP enforcement.

In a recent operation, Interpol found that ‘the outbreak of the coronavirus disease has offered an opportunity for fast cash, as criminals take advantage of the high market demand for personal protection and hygiene products’. Interpol observed a large increase in counterfeit medical products related to COVID-19. Seizures of counterfeit COVID-19 tests, face masks and hand sanitisers have been reported by customs authorities, such as the US Customs and Border Protection, and the World Customs Organization.

Latin America, a region that has been hard hit by the COVID-19 pandemic, is one of the hotspots of trade in counterfeit pharmaceutical products. According to the Mexican Association of Pharmaceutical Research Industries (AMIIF), 60% of the drugs marketed in the country are stolen, expired, counterfeited or produced without complying with the minimum quality requirements. Mexico has the sixth largest market in the world for clandestine drugs, corresponding to the equivalent of about eight million consumers and producing annual losses estimated at USD 150 million throughout the national territory.

On 20 October 2020, IP Key Latin America is organising a virtual seminar focused on the fight against counterfeit medicines on the basis of IP rights. It will spotlight the danger that counterfeit medicines pose to public health and make the general public aware that the pharmaceutical industry holds numerous IP rights that not only serve to protect its investments but also help to fight counterfeit medicines since they provide a legal basis for enforcement actions against these products.

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