)
Venus Remedies Ltd, a research-based global pharmaceutical company, has extended its footprint in Latin America with marketing authorisation for Meropenem from Venezuela, an estimated $6-billion pharmaceutical market.
Venus Remedies Chairman and Managing Director, Pawan Chaudhary, said,“We are planning to launch Meropenem in Venezuela in the next couple of months. The $10 million-Meropenem market offers a great opportunity to us and we are aiming at capturing a sizeable share in this market in the first year of the launch. With a presence in Latin American markets such as Columbia, Peru, Guatemala and Mexico, we are constantly strengthening our position there.”
Meropenem, which accounts for annual global sales of $906 million, estimated to go up to $1,006 million in the next one year, is an off-patented antibacterial agent of the Carbapenem class of antibiotics, which caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.
Venus has received approval for Meropenem from more than 35 countries and is exporting the product to 22 of them, including European Union member-nations. The company has already got marketing authorisation for the drug from the UK (MHRA), France, Austria, Denmark, Finland, Ireland, Germany, Netherlands, Poland, Slovenia, Slovakia, Sweden, Portugal, Czech Republic, Cyprus, New Zealand and Mexico. The product has also made its way to the Balkan countries with marketing approvals from Bosnia & Herzegovina and Croatia.
Venus is now eying lucrative and regulated markets like Australia, Spain, Switzerland, South Africa and Malaysia, where the registration process is in advanced stages.
