RFID to solve $30 bln drug counterfeiting problem

Drug counterfeiting may cost the worldwide pharmaceutical industry more than $30 billion annually. RFID is seen as one way to lower that cost.

Drug counterfeiting may cost the worldwide pharmaceutical industry more than $30 billion annually. RFID is seen as one way to lower that cost. Issues of drug counterfeiting and patient safety differentiate it from RFID in retail markets. With the industry losing $2 billion due to overstock and expiry and $30 billion due to counterfeiting, there is an opportunity for RFID, according to ABI Research.