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EU pharmaceutical industry lost €16.5 billion in sales as staff shift to patent infringing firms

05:11 EDT 19 Jun 2019 | Pharmafile

A report from the European Union Intellectual Property Office (EUIPO) has said ‘counterfeit’ drugs cost the EU pharmaceutical industry €16.5 billion.

The pharmaceutical was the hardest hit industry after the clothing, footwear and accessories industry which lost €45.9 billion in sales on average, each year between 2012 and 2016.

The €16.5 billion annual loss is estimated to a total of 80,459 jobs overall, 33,133 of which were directly related to the proliferation of counterfeit drugs.

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Original Article: EU pharmaceutical industry lost €16.5 billion in sales as staff shift to patent infringing firms

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