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According to the World Customs Organization, what is the estimated cash value of fake drugs that are sold every year?

User Cellcore
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Final answer:

The World Customs Organization highlights the fake drug market as part of widespread illegal trade but does not provide a specific value for it. Counterfeit drugs are included in the broad category of illicit trade, which costs billions annually and has significant health and crime implications.

Step-by-step explanation:

According to the World Customs Organization, the estimated cash value of fake drugs sold every year is a significant global concern. Fake pharmaceuticals are part of a broader category of illegal trading, which also includes illicit trade in wildlife, intellectual property theft, and the unregulated trade of wild-caught animals. While the text provided does not give an exact figure for the counterfeit drugs market, the illegal drug trade, in general, is a massive industry that contributes to elevated crime rates and affects global health.

The cost of China's intellectual property theft costs United States innovators billions of dollars a year, with China responsible for most counterfeit goods entering the U.S. Moreover, the illegal trade in wild animals and plants has been estimated at US$10-20 billion per year, indicating the scale and value of global illicit markets. Drugs, both prescribed and illicit ones, play a significant role in these monetary values, as aggressive policing of pill mills and the scarcity of certain prescription pills lead to higher street prices and a switch to illegal alternatives, fueling the fake drug market.

User Vicrobot
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