Venus Remedies has extended its footprint in Latin America with marketing authorization for meropenem from Venezuela, a $6 billion pharmaceutical market. Moreover, the company is planning to launch meropenem in Venezuela in the next couple of months.
The $-10 million meropenem market in Venezuela offers a great opportunity to the company and the company is aiming to capture a sizeable market in the first year of the launch. Having a presence in important Latin American markets like Columbia, Peru, Guatemala and Mexico, the company is constantly strengthening its position in Latin America.
Meropenem, which accounts for annual global sales of $906 million which are 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.
Venus has received marketing approval for meropenem from more than 35 countries and is exporting the product to 22 of them, including European Union member-nations. The company has already got marketing authorisation for meropenem from the UK (MHRA).
Venus is now eying lucrative and regulated markets like Australia, Spain, Switzerland, South Africa and Malaysia, where the registration process is in advanced stages.
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| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
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