| | More

26th April 2010

Cambridge Consultants to lead industry discussion on burgeoning $75 billion drug counterfeiting market at 2010 BIO International Convention

• Panel will offer insight into the potential patient safety threats, the implications of serialization regulations and the negative commercial impact due to counterfeit drugs

Cambridge Consultants, a leading technology product design and development firm, announced the formation of a distinguished panel to address worldwide industry issues related to drug counterfeiting during the 2010 BIO International Convention in Chicago, IL (May 3-6, 2010).  “Phony Drugs, Real Solutions: Practical Anti-Counterfeiting Considerations” will offer insight from a panel of industry leaders including, Genzyme and the Biotechnology Industry Organization.  As a breakout session within the “Global Biotechnology Issues” track, the panel is slated to take place on Wednesday May 5, 2010 at 8:00 AM - 9:30 AM in Room S403B of the McCormick Place Convention Center.

“It is estimated that within the next 18 months, counterfeit drugs will hold 14 percent of the total market, creating its own $75 billion industry.  Drug counterfeiting is dangerous to patients while also damaging to both brands and profits—and the risk is only growing.  Companies need to find practical ways to mitigate these risks and respond to the increasing regulations in this space,” said Pamela McNamara, President of Cambridge Consultants, who will chair the panel.  “As health care reform is implemented, there is a need for increased communication and collaboration within the industry to find affordable and workable solutions.  With over 15,000 industry attendees at last year’s conference, this is an incredibly powerful platform to share the experiences and lessons learned from this distinguished panel, along with available technology solutions to explore the challenges, opportunities and responsibilities within the biotech industry in addressing counterfeit drugs.”

Cambridge Consultants is undertaking an authentication survey to elicit information from thought leaders dealing with the development and maintenance of biotech security.  A report reflecting input via one-on-one interviews and research findings, alongside observations made during the panel discussion, will be published shortly after the conference.  Copies of the report can be requested by registering here.

“We are looking forward to sharing the results of this industry-wide survey, which should be quite revealing.  As a developer of authentication systems and new technology, we believe that the key to protection against drug counterfeiting is the implementation of a dynamic and layered, systematic solution to attack the problem on multiple fronts,” said Rainuka Gupta, Group Manager of Medical Technologies for Cambridge Consultants.  “Currently, there are a number of potential technology solutions on the market including serialization, anti-tamper packaging, secure system design and secure labeling, but those measures only address individual aspects of the wider problem.  These technologies need to tie into business processes to form an integrated solution that continuously evolves, especially when one considers that counterfeiters have demonstrated that they can quickly adjust and respond to any one-off approaches that companies take.”

Cambridge Consultants is one of the leading design and development companies with a long history of working on new products for many of the world’s leading pharmaceutical and device delivery companies.  Additionally, Cambridge Consultants has over fifteen years of experience in developing and integrating authentication systems and secure systems for clients from blue-chip companies to early stage start-ups across a range of industries.  The company works with pharmaceutical and biotech manufacturing and distributing companies to independently assess both the effectiveness and the vulnerabilities of authentication and secure systems.  The vulnerability analysis will identify and address weaknesses and it will help to determine when it makes sense to implement solutions across the product life cycle, from pre-clinical, through due diligence to the commercial market.

For further information: