COVID-19 and counterfeit vaccines: Global implications, new challenges and opportunities

This research note (RN) examines the drivers and consequences of proliferation of counterfeit (substandard and falsified) COVID-19 vaccines. An integrated framework was advanced which sheds light on the domestic contributory factors such a desperation by citizens to "return to normalcy", institutional impediments, minimum standards of enforcement of laws related to intellectual property rights and lack of access to vaccines in tandem with international environmental drivers such as the growth of online pharmacies, international market intermediaries and vaccine nationalism. Consequently, counterfeit COVID-19 vaccines appear to serve as a disincentive to innovation and investment in research and development activities. The analysis highlights health-related consequences including providing a false sense of security against a dangerous virus and potentially loss of confidence in reliable medicines. This analysis led to the generation of some vital socio-economic implications for public policy and enterprises, which are discussed.