Venus Remedies has received marketing authorisation for meropenem from Australia’s Therapeutic Goods Administration (TGA). The company has tied up with Lupin to sell this drug in Australia. Eyeing a sizeable share in Australia’s $15 million meropenem market in the first year of launch, it plans to market the drug by the third quarter of this year.
With marketing approvals from more than 35 countries, Venus Remedies is poised to capture a significant share in the $1.3billion global meropenem market.
Pawan Chaudhary, Chairman and Managing Director, Venus Remedies said, “The marketing authorisation from TGA has once again proved the company’s capabilities in developing world-class products that meet the most stringent regulatory requirements. This is yet another milestone for Venus Remedies in its journey of obtaining a significant share in the meropenem market globally. Having established strategic tie-ups to market the drug in countries where Venus Remedies has a presence, we enjoy an edge over other competitors.”
Meropenem is an off-patented antibacterial agent of the carbapenem class of antibiotics that caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.
While Venus is already selling meropenem in markets like Europe, New Zealand and Saudi Arabia, it is also in the process of extending its footprint and sales operations to other regulated markets like Canada and Switzerland.
EP News Bureau – Mumbai