New U.S. Chamber Index Points the Way Toward Safer Medicines and Stronger Supply Chains

WASHINGTON, D.C. - The U.S. Chamber of Commerce's Global Innovation Policy Center (GIPC) today launched the Trade in Unsafe Medicines Index, a new tool designed to bring greater clarity to the global challenge of unsafe and illicit medicines. The Index benchmarks 12 sampled economies and seeks to help policymakers strengthen the systems that protect patients, healthcare systems, and IP rights holders.

Unsafe and illicit medicines remain a serious challenge in economies around the world, threatening patient health, weakening trust in healthcare systems, undermining intellectual property rights, and fueling criminal networks. The Index takes a broader view of the problem than traditional definitions of counterfeit medicines by examining the risks associated with substandard, diverted, grey-market medicines, as well as products that are improperly stored, shipped, or administered.

"Unsafe medicines are a global problem, but they are also a solvable one," saidBrad Watts, Senior Vice President, GIPC, U.S. Chamber of Commerce."With a more comprehensive understanding of the sources of unsafe medicines and smarter enforcement, economies can protect patients, reinforce trust in healthcare systems, and support the innovation needed to deliver the next generation of medicines."

The Index finds that many of the sampled economies are not sufficiently equipped to effectively deter or counter trade in unsafe and illicit medicines, and offers concrete recommendations to combat this ongoing threat, including:

• Adopting comprehensive definitions of unsafe and illicit medicines
• Improving customs authorities' ability to identify and stop dangerous products
• Closing regulatory gaps
• Modernizing drug safety systems for today's global marketplace to strengthen vendor screening, remove repeat offenders, and prevent illicit sellers from exploiting e-commerce channels.

To view the full report, click here.

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