SAN RAFAEL, Calif., Aug. 4 /PRNewswire/ -- To combat the escalating global counterfeit drug problem, two tier 1 pharmaceutical companies have selected New Momentum, the leading SaaS-based anti-counterfeiting solution. Both companies expect that, in addition to making it easier to find and shut down violators, their New Momentum solution will play a key role in helping them meet upcoming government regulations.
Reacting to the danger patients may experience from counterfeit drugs, Vice President Joe Biden, at the Joint Strategic Plan to Combat Intellectual Property Theft on June 22, commented, "I applaud Google, Yahoo and Bing for the steps they've taken in recent weeks to stop selling advertising to illegal Internet pharmacies. But, we need to go further." His action plan for going further starts with requiring manufacturers and importers to notify the Food and Drug Administration about any known counterfeit pharmaceuticals and their potential adverse health consequences.
Pam Passaretti, New Momentum CEO, commented, "Not only are our customers reducing the revenue and brand erosion caused by counterfeit activity, but they are in an excellent position to the meet upcoming government requirements. Because our 24/7 online monitoring is so comprehensive, searching sources out of reach by other methods, our customers will be able to quickly download reports containing the required FDA counterfeit notifications."
About New Momentum
New Momentum offers SaaS-based Enterprise Risk Management (ERM) software that combats the rapidly increasing revenue, profit, brand, and market share erosion resulting from global outsourcing and Internet trading. The company's solutions, which provide unmatched visibility into the global open market, include Enterprise Brand Intelligence (anti-counterfeiting) and Enterprise Sales Intelligence (finds channel violations). www.newmo.com