Week in Review: Global Collaboration Benefits Patients

Week in Review: Global Collaboration Benefits Patients

03.15.13 | By Kaelan Hollon

This week we featured two posts from PhRMA's President and CEO John Castellani, both of which looked at the global challenges facing the pharmaceutical industry. Whether combatting counterfeit medicines or promoting international trade relations, his posts highlight the industry's increasingly global perspective on ensuring patient safety.

Counterfeiting is a worldwide problem that's going to require plenty of cooperative partners to address. Worldwide sales of counterfeit drugs last year were $431 billion and 84 percent directly impacted U.S. public health. Approximately 370 doctors in 38 states were warned by the FDA that they may have purchased counterfeit medicines. As a result, PhRMA announced its members united to form a new partnership with INTERPOL, the largest international police organization, in an effort to abolish this practice.

Patient safety always has been, and will continue to be, our priority as we aim to open new markets with developing countries. The House Ways and Means Trade Subcommittee held a hearing on U.S. - India trade relations this week. India's protectionist regime means that patients lose. Three of India's largest pharmaceutical companies generate 50 percent of their revenue in the United States, while India has closed its pharmaceutical market to U.S. innovators. Castellani urged Congress to press the government of India to give American companies the same market access that Indian companies enjoy in the U.S. because it will create jobs and promote economic growth, in addition to encouraging innovation that could lead to the next life-saving medication.

It's a challenging time to be in the pharmaceutical industry right now, but it also holds enormous promise. We will continue to collaborate with our global counterparts to ensure patients have access to safe, reliable medicines around the world.

More On PhRMA — powered by PhRMApedia