According to the National Association of Boards Pharmacy, there were about $75 billion in counterfeit drug sales. On average, about 1-2% of drugs sold in North America are counterfeit. Because of this, several tech companies are coming together to combat them.
Google Inc., Microsoft Corporation, GoDaddy.com, Inc., Yahoo! Inc., eNom Inc., and PayPal Inc. are some of the companies involved in the initiative. These companies are supporting the Obama administration efforts according to the White House Office of Management and Budget. ?As the administration has made clear, no one company can solve this problem, so this new cross-industry group is a welcome step forward that we are pleased to support,? stated Google managing counsel for litigation and regulatory affairs Hilary Ware.