EUIPO Report says counterfeit medicines cost EU €10.2 billion a year

A report, published on Sept. 29, 2016 from the European Union Intellectual Property Office (EUIPO), shows that 4.4% of legitimate sales of pharmaceuticals are lost each year in the European Union due to counterfeiting. Those lost sales translate into 37,700 jobs directly lost across the pharmaceutical sector in the EU, as legitimate manufacturers and distributors of pharmaceuticals employ fewer people than they would have done in the absence of counterfeiting.