Venus gets marketing nod from Venezuela for infection drug

Review Rowdy -

New Delhi, Apr 3 : Venus Remedies Ltd, a research-based pharmaceutical firm, today said it has received the marketing approval for meropenem, a drug used to treat a wide variety of bacterial infections, from Venezuela, a 6-billion dollar pharmaceutical market. ''We are planning to launch meropenem in Venezuela in the next couple of months. The 10 million dollar meropenem market in Venezuela offers a great opportunity to us and we are aiming at capturing a sizeable share in this market in the first year of the launch,'' Venus Remedies Chairman and Managing Director Pawan Chaudhary said in a statement.  Having a presence in countries like Columbia, Peru, Guatemala and Mexico, the company was constantly strengthening its position in Latin American market, Mr Chaudhar added.  Meropenem annual global sales account for 906 million dollar and estimated to go up to 1,006 million dollar in the next one year, the company said.  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, he added. 

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