Venus Remedies receives Indonesian GMP certification for Baddi unit

The Haryana-based Venus Remedies Ltd has received a good manufacturing practices (GMP) certification from Indonesian National Agency for Drug and Food Control (NADFC) for its Baddi unit in Himachal Pradesh. With this, the number of international GMP certifications for Venus Remedies has gone up to 22.
 
The $4.5 billion Indonesia pharmaceutical market is expanding at an annual rate of 12.5% and is considered to be one of the most flourishing markets for pharmaceutical companies looking to expand across the Asia-Pacific region.
 
Venus Remedies is eyeing to tap Indonesia’s cancer market, which is estimated at $88.58 million in 2013 and is expected to grow at 10%, with its oncology product line. The company expects to commercially launch its products in Indonesia by the middle of this year and is projected to generate a revenue of $ 1 million in the first year itself. With the launch of its oncology products in Indonesia, the company aims to capture the maximum share in the country’s pharmaceutical market.
 
Besides this, Venus is expecting registration for our 10 oncology products in the next two weeks. This GMP will soon pave the way for marketing authorisations from Indonesia.