Venus Remedies' receives authorisation for Meropenem in Mexico

Venus Remedies, a Rs 400-crore plus research based pharmaceutical company, has received grant of market authorisation from COFEPRIS (La Comisión Federal para la Protección contra Riesgos Sanitarios), the Drug Regulatory Authority of Mexico, for its Meropenem 500mg and Meropenem 1000mg in Mexico.
 
Market authorisation for Meropenem will enable Venus Remedies to launch its first product in Mexico and will strengthen its position in Latin America where Venus is currently exporting to various countries such as Columbia, Peru, Guatemala, Dominican Republic, Jamaica, Bahamas and the Caribbean.  
 
Dheeraj Aggarwal, Chief Financial Officer of Venus Remedies said, “hope to capture 10% of the market share within the first 3 years of our product launch.”

At present, Meropenem sales account for $16.3 million in Mexico, of which 80% is with innovator’s product “Merrem” and rest with other local companies. Venus Remedies with its penems EU GMP certified manufacturing facility in Baddi, India, is all set to expand its footprints across the globe. It already has 73 marketing authorisations for Meropenem across the world while product registrations from 13 countries are under process and are expected within this year only.

Meropenem 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 multiple serious infections including bacterial Meningitis, Nosocomial Pneumoniae, Septimicemia, Serious ICU infections, Intraabdominal Infections, Febrile Neutopenia, Skin and Skin structure infections. It is also very resistant to extended-spectrum beta lactamases.

Presently, Venus is already selling Meropenem in various markets and is in the process of further extending its sales operations in the most regulated markets which includes countries like Netherlands, France, Italy, Germany and few more.
 
The company is planning to launch the product in Mexico within the first quarter of fiscal year 2013- 2014.