Sproxil’s impressive record in Nigeria and fresh funding [TA 14 and 22 March] have, as predicted then, enabled their expansion to India–in other words, the major leagues. India constitutes the largest counterfeit drug market in the world, originating an estimated 35% (WHO) to 75% (OECD–Organization for Economic Cooperation & Development) of the global supply of fake drugs. The irony is that India is a leading world producer of legitimate pharmaceuticals for most of the major firms. For the Indian consumer and pharmacist, Sproxil’s authentication system can confirm genuineness right at the point of sale, using SMS verification of a unique code. Economic Times (India) Background: Fake drugs a bitter pill for India, Asia Times, from June 2008
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How exactly are they expanding? Which companies are they working with there?