Counterfeit Pharmaceutical Drug Industry Essay Example | Topics and Well Written Essays - 3250 words

Counterfeit Pharmaceutical Drug Industry - Essay Example In the recent years, both the appearance of incurable diseases and the popularity of fake medication complicate global counterfeit regulation. In particular, the core sense of this activity in the current economic framework of developed North and developing South, which was a crucial and is still not solved problem. In other words, pharmaceutical drug regulation is incorporated in global economy. In this context, huge profits of pharmaceutical companies cause the situation when business structures resist to any strict regulatory practices. In fact, it is reasonable because regulation has always been strong enough to block innovative potential for business by its strict ruling nature (Brooker and Cullum, 2008, p. 5). Consequently, this number of challenges require regulation to concentrate rather on fundamental transformation than on fixing daily mistakes (Brooker and Cullum, 2008, p. 7), as its efficiency is linked to the social satisfaction. Furthermore, the nature of this process is doubtful in case of pharmaceutical counterfeit regulation. In general, the deep contradiction between human life and business profit eliminates the balance within the regulatory practices in the sphere. In this context, certain researchers found severe problems connected with the impact of regulation on society. For instance, Weinstein (2005) mentions that certain technological measures of regulation challenge personal privacy and freedom (p. 31-32). In addition, current regulation of global pharmaceutics usually relies on national governments and legal institutions not ordinary people personally (Burns, 2006). In other words, counterfeit combat is above all a political battle. In this context, the analysis of regulation in this sphere is based on interest group theories (Baldwin et al., 2012, p. 43-49). Thus, issue of making regulation more effective is crucial for the medical sphere in general and counterfeit