28 C
Guwahati
Sunday, April 21, 2024

Venus Remedies gets nod to sell its generic antibiotic in Spain

- Advertisement -
- Advertisement -

CHANDIGARH, June 22 (PTI): Pharma major Venus Remedies Limited on Thursday said it has secured marketing authorisation from Spain for its generic antibiotic meropenem.

The company, which has got the approval through its German subsidiary Venus Pharma GmbH for 500mg, 1g and 2g injections of this last-recourse antibiotic, happens to be the largest exporter of meropenem from India in the last three years, Venus Remedies said in a statement.

- Advertisement -

“With plans to launch the product in December this year, we will be able to capture a 10 per cent share in the USD 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, said in the statement.

Meropenem, a broad-spectrum antibiotic of the carbapenem class used in intensive care units of hospitals as a last resort for the treatment of life-threatening infections,  contributes to 40 per cent of the company’s total sales, it said.

The market size for this product in Europe is about USD 70.34 million. Venus Remedies has launched this drug in major European markets under its own brand name and through strategic alliance partners by way of tie-ups.

The company has already got more than 120 marketing authorisations for meropenem from countries like the UK, 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, among others.

- Advertisement -

“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,” said Venus Remedies Executive Director Akshansh Chaudhary.

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur
Latest news
- Advertisement -
Related news
- Advertisement -
10 Spots To Explore In Aizawl 10 Hidden Gem Hill Stations In India To Escape The Summer Heat In April / May Rashami Desai’s Timeless Elegance In Every Click Top 7 Hill Stations In South India You Must Visit Once 7 Animals That Lay Largest Eggs