Harold E.
Cohen, RPh
Editor-in-Chief
7/17/2014
US Pharm . 2014;39(7):1.
For generations, many greedy, scheming businessmen in this country have been buying and then selling goods from the so-called gray market to unsuspecting consumers. While the notion of a gray market may vary from person to person, it is defined basically as a market created by selling legal goods outside of a manufacturer’s authorized trading channels. Let’s say a legitimate jewelry store wants to sell a certain premium brand of watches. It would not be unreasonable for the premium watch manufacturer to conduct an analysis of the store’s business volume and credit history before allowing it to become an authorized dealer of its brand. Another, less reputable store might like to sell the same watches, but instead of buying them directly from the prestigious watch manufacturer, it purchases them through a “middleman” who likely obtained the watches through more corrupt means. This constitutes the beginnings of a gray market for these watches. And because the store selling gray market watches does not have to abide by the manufacturer’s strict sales policies, it can usually sell the watches at much-discounted prices compared to those the authorized dealer must charge.
A gray market for pharmaceuticals
has also existed over the years, wherein diverters sell legitimate drugs at
lower prices to retailers who might be having trouble making ends meet.
Unfortunately, with prescription drugs the gray market has evolved into a more
serious black market, consisting typically of controlled and counterfeit drugs.
While the FDA has been proactive about prosecuting pharmacists who are caught
purchasing and distributing black market medications, only the more sensational
arrests make headlines.
continue to read here
Editor-in-Chief
7/17/2014
US Pharm . 2014;39(7):1.
For generations, many greedy, scheming businessmen in this country have been buying and then selling goods from the so-called gray market to unsuspecting consumers. While the notion of a gray market may vary from person to person, it is defined basically as a market created by selling legal goods outside of a manufacturer’s authorized trading channels. Let’s say a legitimate jewelry store wants to sell a certain premium brand of watches. It would not be unreasonable for the premium watch manufacturer to conduct an analysis of the store’s business volume and credit history before allowing it to become an authorized dealer of its brand. Another, less reputable store might like to sell the same watches, but instead of buying them directly from the prestigious watch manufacturer, it purchases them through a “middleman” who likely obtained the watches through more corrupt means. This constitutes the beginnings of a gray market for these watches. And because the store selling gray market watches does not have to abide by the manufacturer’s strict sales policies, it can usually sell the watches at much-discounted prices compared to those the authorized dealer must charge.
continue to read here
1 comment:
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