Chandigarh, Nov 12, 2014: Gets approval from Swiss drug authority Swissmedic through its German subsidiary Venus Pharma GmbH for meropenem 500 mg, 1 g injections
With plans to launch the product early next year through its partner Swiss Pharma GmbH Zurich, Venus eyes 10% share in Switzerland’s meropenem market
Being among the first few companies to receive marketing authorisation from Switzerland for meropenem, Venus enjoys a distinct advantage
Venus Remedies Limited, a leading research-based global pharmaceutical company, has achieved yet another landmark by getting marketing authorisation from Switzerland for its generic product meropenem. The company has got this approval from Swiss drug authority Swissmedic through its German subsidiary Venus Pharma GmbH for meropenem 500 mg and 1 g injections.
“ With plans to launch this product early next year through our partner Swiss Pharma GmbH Zurich, we will be able to capture 10% share in the meropenem market of Switzerland ,” said Venus Remedies Chairman and Managing Director Pawan Chaudhary.
Being among the first few companies to receive marketing authorisation from Switzerland for this drug, Venus enjoys a distinct advantage. “The marketing approval for this critically important antibiotic has once again proved the company’s R&D capabilities and its expertise in developing world-class products with regulatory might. It will help us strengthen our portfolio in the Swiss market,” said Chaudhary.
Meropenem is a last-resort drug of the carbapenem class of antibiotics which is used in intensive care units (ICUs) of hospitals.The global annual sale of meropenem, which stood at $1,879 million in 2012, is estimated to grow at a compounded annual growth rate of 7.5 per cent to reach around $2,100 million in 2014-15.
The drug is used in the treatment of severe bacterial infections like pneumonia, broncho-pulmonary infections in cystic fibrosis, complicated urinary tract infections, complicated intra-abdominal infections, intra- and post-partum infections, complicated skin and soft tissue infections and acute bacterial meningitis.
Venus Remedies has secured more than 40 marketing authorisations for meropenem throughout the world from countries like the UK, France, Germany, Saudi Arabia, Australia and Italy, among others. With this marketing approval from Switzerland, the company is expecting to generate good revenue in the coming year. Venus is already selling meropenem in various European Union (EU) and non-EU markets, and is in the process of extending its footprint and sales operations in other markets like Spain, Australia and South Africa through strategic tie-ups.