Drug maker Venus Remedies is planning to foray into the European drug market with its innovative generic injectables and cancer drugs.
The company has lined up close to 25 products for launch in about 15 European countries, including the launch of four drugs within a few months, said Pawan Chaudhary, chairman & managing director, Venus Remedies.
The products lined up for immediate launch are antibiotics Meropenem and Cilastatin, Irinotecan (for rectal cancer) and Gemcitabine (for breast cancer). These drugs have a market potential worth over 400 million euros.
“We have a first mover advantage as Teva is the only competitor for us in the case of Meropenam and we expect a business of at least 4 million euros from the first year of sales,” said Chaudhary.
Venus plans to manufacture the basic products in India and convert those to finished products at its acquired facility in Germany.