Acumen Fund investee Sproxil Inc., which is combating the global counterfeit drug market through a mobile-phone based solution, has announced its expansion to India.

It is estimated that counterfeit drugs are a $200 billion dollar a year business, and comprise up to 30% of drugs in developing countries. For Acumen Fund’s customers, this brings uncertainty and risk with each purchase of critical, life-saving medicines.

Before Sproxil, patients lacked a direct way to confirm the authenticity of the drugs they were taking. Government regulatory bodies often struggle to root out counterfeiters, and drug companies face a complex and inefficient system to regulate counterfeits through legal action.

Sproxil’s Mobile Product Authentication™ system puts the power to verify whether[...]

[Published in NonProfitBlogs - Read the original article]