Pharma main Venus Remedies Ltd. on Thursday mentioned it has secured advertising and marketing authorisation from Spain for its generic antibiotic meropenem.
The firm, which has bought the approval by its German subsidiary Venus Pharma GmbH for 500mg, 1g and 2g injections of this last-recourse antibiotic, occurs to be the biggest exporter of meropenem from India in the final three years, Venus Remedies mentioned in a press release.
“With plans to launch the product in December this year, we will be able to capture a 10% share in the $6.34-million meropenem market of Spain. It will help us strengthen our position in the European market as well,” Saransh Chaudhary, president, Global Critical Care, Venus Remedies, mentioned in the assertion.
Meropenem, a broad-spectrum antibiotic of the carbapenem class used in intensive care models of hospitals as a final resort for the therapy of life-threatening infections, contributes to 40% of the corporate’s whole gross sales, it mentioned.
The market measurement for this product in Europe is about $70.34 million. Venus Remedies has launched this drug in main European markets below its personal model identify and thru strategic alliance companions by means of tie-ups.
The firm has already bought greater than 120 advertising and marketing authorisations for meropenem from international locations just like the U.Okay., France, Italy, Denmark, Finland, Ireland, Germany, Netherlands, Slovenia, Slovakia, Sweden, Portugal, Cyprus, South Africa, New Zealand, Australia, Bahrain, UAE, Saudi Arabia, Colombia, Costa Rica and Mexico, amongst others.
“Riding on the upcoming marketing approvals for meropenem across Europe, we expect Venus Pharma GmbH to achieve a significant increase in turnover in the coming quarters. We are holding talks for more strategic tie-ups with multinational companies in other regulated markets,” mentioned Venus Remedies Executive Director Akshansh Chaudhary.
