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| Exchange Disseminated Time | Venus Remedies Ltd has informed BSE regarding "Venus Remedies receives Market Authorisation for Meropenem in UK & New Zealand"
Announcement:
"The company has received approval for Market Authorisation from MHRA (UK) via DCP route (which covers Ireland, Poland, Slovenia, Netherlands, Finland, Austria, Slovakia, Denmark, Germany, Sweden, France and Italy also) for its generic broad spectrum injectable antibiotic carbapenem. The company is all set to launch this drug soon within, this fiscal year.
Besides this, Venus has also got Market Authorisation for the same product from New Zealand’s Ministry of Health.
MA grants from both the territories has opened doors for Venus to enter into the highly lucrative penems market of 250 million USD in Europe and 20 million USD in New Zealand. Meropenem market authorization grants once again proved company’s R&D capabilities and its expertise in developing world class products with regulatory might. The dossier was developed as per international guidelines, as a generic against the originator’s product. With these milestones, we shall be able to capture a significant share of the Meropenem market in Europe and New Zealand since ‘Venus has’ competitive edge against other players. Venus has a dedicated penems manufacturing facility which is EU GMP certified.
Meropenem is a broad spectrum anti-bacterial agent of carbapenem family, indicated as empirical therapy prior to the identification of causative organisms, or for disease caused by single or multiple susceptible bacteria in’ both adults and children with a broad range of serious infections. At present, Meropenem sales account for $ 906 million across the globe, which is estimated to grow to $ 1006 million by 2012.
Presently, Venus is already selling Meropenem in various markets and is in extending its footprints & sales operations in the most regulated markets also, which includes countries like Netherlands, France, Italy, Germany and few more. The company is successfully doing so through various tie-ups in these countries." |
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