StockGuru Blog: IDGLOBAL Snags Ten Year Contract with Leader in Pharmaceutical Labeling

Perhaps there is no more important industry than the pharmaceutical industry for counterfeit tracking.

The unique labeling that IDGJ can provide is crucial for both Canada and the world. Recently a British Columbian woman was fatally poisoned by counterfeit anxiety pills she ordered over the Internet, four Ontario patients died after apparently consuming fake — and ineffective — heart drugs, while Quebec vendors sell knock-off Viagra at a flea market.

The peddling of bogus pharmaceuticals is becoming such a worrisome problem that Health Canada has begun drafting a new anti-counterfeit strategy, expected to include beefed-up enforcement, stronger ties with police and a public-education campaign.

The situation in Canada is not as serious as in some developing countries, where as many as half the prescription drugs on the market are imitations. In a recent Nigerian editorial it was noted that almost every product on the Nigerian market, imported or locally made, has a counterfeit version. The result is that when you want to buy something, the vendors themselves are the very ones to ask you whether you want the original or the fake.

Counterfeit drugs have emerged globally as a major problem in the last five years, with one U.S. organization predicting that worldwide sales could reach $75-billion by 2010. Criminally minded counterfeiters can make copies of expensive pills cheaply, sell them cheaply and earn a healthy profit.

Bogus medication is increasingly showing up through unregulated Internet sites and even, in less common cases, at those licensed, real pharmacies.

Fraudulent copies of popular drugs have even been used to finance terrorists, U.S. police allege. Five Canadian men were among those charged last year with selling a variety of counterfeit goods and funneling the money to Hezbollah, the Lebanese extremist group.

Impotence drugs like Viagra, Cialis and Levitra are particularly popular with counterfeiters, who can sell them over the Net –or in flea markets — to normally careful consumers who are too embarrassed to seek out a prescription from a doctor. Around two thirds of counterfeits that arrive in Canada are from China.

The recent execution of former head of China’s food and drug administration, Mr. Zheng Xiaoyu, for approving untested drugs in exchange for a bribe of $832,000 underscores the seriousness of the problem.

The IDGLOBAL Supply contract for anti-counterfeiting technology guarantees ATL the ability to incorporate IDGLOBALS’ Nano-Molecular Markers into any Pharmaceutical labeling solution. ATL and IDGLOBAL are already well positioned to address the massive counterfeiting concerns with unique, patented, Trademark proprietary solutions that no one else can provide. This will be extended to the mainstream OTC (over the counter) pharmaceutical product labeling opportunities with companies that are already solid, long-term ATL clients, as well as the emerging “nutraceutical” products manufacturers.

IDGLOBAL has two primary divisions, its Nano-Molecular Markers / Tags(TM) used in anti-counterfeiting applications and its IDFORENSIX(TM) products utilized in Loss Prevention for the $800 billion Anti-Counterfeiting and Loss Prevention markets.

IDGLOBAL’s Nano-Molecular Markers(TM) are the equivalent of taking the laboratory into the field and providing a verifiable answer as to a products authenticity in a matter of seconds by utilizing proprietary Nano-Molecular Markers(TM) and handheld scanning technologies. IDGLOBAL provides its Nano-Molecular Markers(TM) on a global basis and can easily be applied to product runs into the hundreds of millions of units at a cost of a fraction of a penny per unit. IDGLOBAL has established a multi-year track record of aiding in the protection of corporate assets and brand-name goods for major companies across North America. The Company is reviewing key alliance and acquisition opportunities to fast track growth and profitability.

IDGLOBAL Corp. has been publicly traded company since May 2006, and is currently trading under the Pink Sheet stock symbol IDGJ. An essential component of the Company’s business plan is to stay current with its financial statements have these statements reviewed each quarter by appropriate auditors. IDGJ will have all of the required regulatory filings ready to be submitted-along with Form 10-to the SEC.

Source: IDGJ, Reuters, The Financial Times, All Africa