Pharma slices cargo theft in H1 2011

Pharma has taken a big swat at cargo theft, according to stats in the semi-annual report from Freightwatch. The security specialist counts 14 thefts in the first half of 2011, compared with 25 during the same period last year.

The average value of the 2011 thefts is about $541,000, down from the staggering $5.12 million of a year ago, according to the report. The 2010 figure, of course, is bloated by the Mission Impossible-style theft of $76 million in Eli Lilly drugs from a warehouse in Enfield, CT.

Freightwatch notes in the current report a rapid drop--to just one--in pharma thefts valued at $1 million or more. There were 5 thefts of this magnitude in first-half 2008 and 2009, falling to two last year. Perhaps the drop-off can be attributed to the more obtuse among drug thieves, such as those who drove off with a full trailer of Pfizer generics worth a paltry $66,000. Another reason is likely the concerted effort of industry to fight back by hardening the supply chain and organizing the Pharma Cargo Security Coalition.

- here's the report
- read more from Securing Pharma

Special Report: Top 10 Pharma Cargo Thefts by Value, 2009/2010

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