Venus Remedies Limited, a front-runner in research-based pharmaceuticals, has accomplished a significant breakthrough by obtaining marketing authorization for meropenem in Spain. The company intends to launch this vital antibiotic in the Spanish market in December, setting the stage for a broader reach in Europe.
Meropenem, a life-saving broad-spectrum antibiotic in the carbapenem class, is indispensable in the treatment of severe infections. It’s often used as a last resort in intensive care units. The product holds a prominent place in Venus Remedies’ portfolio, accounting for 40% of its total sales.
This authorization was acquired through the company’s German subsidiary, Venus Pharma GmbH, and encompasses 500mg, 1g, and 2g injections of meropenem. Venus Remedies has been the largest exporter of meropenem from India over the last three years, highlighting the product’s global significance.
Saransh Chaudhary, President of Global Critical Care at Venus Remedies, stated, “This marketing approval reinforces our commitment to producing high-quality pharmaceutical products. With plans to capture a 10% share in the $6.34 million meropenem market of Spain, we are also poised to solidify our standing in the European market.”
The global reach of Venus Remedies is notable, as the company has amassed more than 120 marketing authorizations for meropenem worldwide, including in the UK, France, Germany, and various other countries.
Akshansh Chaudhary, Venus Remedies’ Executive Director, expressed optimism for future growth. “Venus Pharma GmbH is set to see a significant boost in turnover thanks to the upcoming marketing approvals for meropenem across Europe. We’re also in discussions for more strategic collaborations with multinational companies in other regulated markets,” he remarked.
Venus Remedies boasts a production capacity of 24 million units of meropenem per year on a single-shift basis. The company is currently using only 60% of this capacity, indicating ample scope for ramping up production to satisfy burgeoning market demands.
Venus Remedies’ marketing authorization for meropenem in Spain is not just a victory for the company but also for the healthcare sector at large. As it continues to set high standards in pharmaceutical manufacturing, Venus Remedies is unequivocally emerging as a formidable player in the global pharmaceutical industry.