A new report released yesterday by the European Union Intellectual Property Office (EUIPO) and the Organisation for Economic Cooperation and Development (OECD) estimates the total value of counterfeit pharmaceuticals traded worldwide to be up to EUR 4.03 billion.

Customs seizure data analysed in the study, which covers the period 2014-2016, shows that counterfeit antibiotics, lifestyle drugs and painkillers were the most frequently encountered.

However, other medicines like counterfeit cancer treatment medication, diabetes treatment drugs, local anaesthetics, malaria treatment drugs, HIV treatment drugs, and heart disease medication were also seized by customs officials.