Venus to sell Meropenem in Australia; ties up with Lupin

Pharma major Venus Remedies Ltd today said it has received marketing authorisation for its antibiotic drug Meropenem from Australian regulator TGA and has tied up with Lupin to sell the drug there.

The Panchkula-based company said it plans to roll out the drug by the third quarter of 2014 and is eyeing sizeable share in Australia's $15 million Meropenem market in the first year of launch.

"The marketing authorisation from TGA (Therapeutic Goods Administration) has once again proved the company's capabilities in developing world-class products that meet the most stringent regulatory requirements," said Venus Chairman and MD Pawan Chaudhary in a statement.

He said the company has tied-up with Lupin to market this drug in Australia.

Meropenem is an off-patent antibacterial agent of carbapenem class of antibiotics that caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.

Venus Remedies is already selling Meropenem in lucrative markets like Europe, New Zealand and Saudi Arabia. It is also in the process of extending sales operations to other regulated markets like Canada and Switzerland, Chaudhary said.

With marketing approvals from more than 35 countries, Venus Remedies is poised to capture a significant share in the $1.3 billion global Meropenem market, he said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi’s proposal to bring clarity to merger moves is a welcome step

    Market regulator Sebi is reportedly planning changes in rules governing merger and acquisition of companies in India.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Prosperity mantra across the ages

The economic prosperity of a nation rests upon its ability ...

Kuruvilla Pandikattu SJ

Can we pop a pill for compassion?

Can altering brain chemistry make us more sensitive to inequality? ...

Gautam Gupta

Fashion forward for e-commerce industry?

Looks like the e-commerce industry is taking a leaf out ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture