Venus Remedies Ltd, Chandigarh-based pharmaceutical company bagged a contract for supply of its anti-cancer product by Thailand government.
The contract has been awarded through the scheme of Compulsory Licence issued by ‘Docetaxel’ to Thailand by the Government Pharmaceutical Organization (GPO) under Ministry of Health, Thailand.
“The contract is valid for one year and is expected to generate a business of more than Rs 100 million to the company. We have tie-up with a local pharmaceutical group for marketing and distribution of the product to the entire Thai market. The supply of this product will begin by November 2010,” said Pawan Chaudhary, CMD, Venus Remedies Ltd.
The highlight of this award is that the patent of the product Docetaxel of the innovator is still valid in Thailand and the award has been given on the basis of quality product at affordable prices. The GPO, after importing the drug, would make it available amongst the poor who cannot afford high-cost anti-cancer drugs. The GPO approved its manufacturing facility for the supply of the product after conducting plant audit as per international standards.
Total pharma market in Thailand is about $2.9 billion. Venus already has 10 product registrations in Thailand for oncology & anti-infective segments and has established itself as a quality supplier of oncology products with its products being used now in many hospitals and institutions, Chaudhary said.
