At least quote the whole paragraph, if nothing else it makes discussion *here* a whole lot easier.
“The agreement is seeking to address a number of very different issues of which some are serious problems of public health and public safety, for example trade in fake medicine,” Ms. Schaake said. “But that issue doesn’t compare to the alleged cost to society of online piracy. It seeks to kill 20 birds with one stone. It risks not solving the legitimate concerns but causing incredible collateral damage.”
I read this as indicating that both issues are simply in different leagues when it comes to importance. The phrasing "alleged cost [...] of online privacy" seems to indicate she sees the fake meds as much much more important and that she's worried that the inclusion of anti-piracy stuff is harming these legitimate concerns.