Venus gets marketing nod from Venezuela for Meropenem

Venus Remedies Ltd, a research-based global pharmaceutical company, has extended its footprint in Latin America with marketing authorisation for Meropenem from Venezuela, an estimated $6-billion pharmaceutical market.

Venus Remedies Chairman and Managing Director, Pawan Chaudhary, said,“We are planning to launch Meropenem in Venezuela in the next couple of months. The $10 million-Meropenem market offers a great opportunity to us and we are aiming at capturing a sizeable share in this market in the first year of the launch. With a presence in Latin American markets such as Columbia, Peru, Guatemala and Mexico, we are constantly strengthening our position there.”

Meropenem, which accounts for annual global sales of $906 million, estimated to go up to $1,006 million in the next one year, is an off-patented antibacterial agent of the Carbapenem class of antibiotics, which caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.