Venus Remedies has received marketing authorization in Switzerland through its German subsidiary Venus Pharma GmbH from Swiss drug authority (SWISMEDIC) for its generic product Meropenem 500mg & 1g injection. Meropenen is a carbapenem drug of last resort being used in ICU. This market approval of critically important antibiotic drug will help Venus to strengthen its portfolio in Swiss market. The company is planning to launch this product early next year through its partner Swiss Pharma GmbH Zurich to expand its presence in the division.
Meropenem, the global annual sale of which stood at $1,879 million in 2012, is estimated to grow at a compounded annual growth rate (CAGR) of 7.5% to reach around $2100 million in 2014-15.
Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
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