Pharma cargo theft takes new spike

Pharmaceutical cargo theft dropped off significantly for several years after security officials within the industry began urging drugmakers and shippers to use tracking technology, two-driver rigs and just common sense to avoid thefts. But according to recently released stats from FreightWatch International, the trend has turned up again. The logistics and security company reported that in 2013, full-truckload pharmaceutical thefts jumped by 50% to 33 from 22, with the average loss up 14.15% to $261,819. Total pharma thefts, including last-mile cargo theft, spiked to 83, with an average loss of $180,346 in 2013. That was up from just 36, with an average loss of $153,697, in 2012. Last-mile thefts usually involve street criminals who rip off pharmacy delivery vans. Access the report here (reg. req.) | More

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