Advances in Consumer Research
Issue 3 : 340-349
Original Article
Counterfeit and Inefficient Medicines in Eastern Countries: Trends, Regulatory Challenges, and Strategic Solutions
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1
Dean, M.E.T. Institute of Mass Media, MET Bhujbal Knowledge City, Bandra Reclamation, Bandra West -400050. Mumbai. Maharashtra
2
Assistant Professor, School of Management, Presidency University, Bengaluru
3
Regional Director, Research & New Initiatives, Arthkalp, a leading research support co. Yamunanagar, Haryana
4
Institute of Business Management, GLA University, Mathura
5
University School of Business, Chandigarh University
6
Associate professor, Uttaranchal University, Dehradoon
7
Manav Rachna International Institute of Research and Studies, Faridabad
Abstract

Counterfeit and substandard medicines in the Eastern countries are high and have spurred many a public health concern in the past century. This paper focuses on analysing the trends of counterfeit drugs, their distribution, and understanding the success of regulations preventing fake drugs from circulating from the year 1900 to the present date. To address the research questions, this study uses descriptive analysis, inferential statistics, and SEM analysis on drug regulatory strictness, pharmaceutical transparency, and drug quality. The data taken from the regulatory reports and records of the pharmaceutical companies and the expert interviews was analyzed by using SPSS and SmartPLS. The findings show the global incidences of fake medicines having increased greatly within the period under review from 1900 to 2020, gaining a 500% success, and the most counterfeited medication being antibiotics at 38%, and painkiller at 25%. In 72% of the total cases, the firms found connected to fake drugs. The linear regression model reveals that the compliance degree of high standards of regulation indeed lowers the counterfeiting rate for drugs by as much as 40 percent. All the outcomes stress that more stringent measures regarding the problem must be implemented, together with increased cooperation on intergovernmental level and development of appropriate technologies for the detection of counterfeit drugs at the Internet level.

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