This archive report was first published on 17 June 2020.
Wednesday, June 17, 2020, marks a critical moment in the fight against COVID-19, with pharmaceutical companies racing against time to develop vaccines and therapies. Amidst this urgency, a grave danger threatens to undermine our collective efforts: illicit trade.
According to the Organisation for Economic Co-operation and Development (OECD) and the European Union Intellectual Property Office, the value of global trade in counterfeit pharmaceuticals was up to Sh440 billion ($4.4 billion) in 2016. This represents 0.84 percent of total worldwide imports in pharmaceutical products and is likely to increase post-COVID-19.
Counterfeit and sub-standard medicines pose a significant risk to patients' health, with the World Health Organisation estimating that between 72,000 and 169,000 children may die unnecessarily from pneumonia every year after receiving counterfeit drugs. Fake anti-malarial medication may be responsible for an additional 116,000 deaths.
As Kenya struggles to manage the COVID-19 pandemic, stakeholders must step up efforts to curb illicit trade and reduce the incidence of counterfeit medical products. This requires a public-private dialogue between the industry and the government to strengthen legislation and policy, as well as enhance enforcement.
The consequences of inaction are dire, with illicit trade placing a heavy cost on governments and citizens due to increased strains on healthcare systems. It is time to take decisive action to address this global scourge once and for all.
The writer is Country Manager Pfizer Laboratories Ltd.
