Pharma, Personal Care Products Among Most Counterfeited in U.S.
Approximately $1.26 billion worth of counterfeit goods originating overseas were seized by the U.S. Customs and Border Protection (CBP) in 2012. Each seizure averaged $10,450 worth of counterfeit goods. The value and the number of seizures changes dramatically each year due to the products sold and the success of CBP operations. The value of handbags and wallets seized in 2012 rose 142% compared with the previous year. Therese Randazzo, the director of the Intellectual Property Policy and Programs Division for the CBP, explained that CBP officials may seize knockoffs of more expensive brands in one year than in another. 24/7 Wall St. reviewed the 10 most counterfeit items seized in 2012, based on their retail value.
Pharmaceuticals and personal care items ranked No. 8 on the list, counting for 7% of the total value of seized items. An estimated $83 million worth of pharmaceuticals and personal care products were seized in 2012, down from nearly $142 million just a year earlier. China was responsible for most of the seized counterfeit drugs and personal care items, with an estimated $46.9 million worth of products. In addition, pharmaceutical and personal care products constituted 76% of seizures of products originating in India, with an MSRP of over $5.3 million. Randazzo explained that while India has a large legitimate pharmaceutical industry, it also has a significant counterfeit industry. At left: A CBP officer displays a bag of seized counterfeit Viagra.
View the entire list and photo slide show here.