The Pharmaceutical Journal
Vol 269 No 7220 p556
19 October 2002

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Industry loses £1bn a year to parallel trade

Parallel trading is costing the pharmaceutical industry in Britain £1bn a year in lost revenues, according to the Association of the British Pharmaceutical Industry’s director-general, Dr Trevor Jones.

“The increase in parallel trade is severely restricting our trade success in pharmaceuticals,” he said. Nevertheless, Dr Jones announced a 12 per cent improvement in the UK’s trade balance in pharmaceuticals in the first half of the year. The balance rose to £1,488m, compared with £1,333m last year.
Imports from European Union countries jumped by 24 per cent from £1,835m to £2,277m.