Pharma major Venus Remedies Ltd. 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.
“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, 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% of the company’s total sales, it said.
The market size for this product in Europe is about $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 U.K., 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.
“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.
