Venus receives authorisation for Meropenem in Australia
The company plans to tie up with Lupin to sell the drug in the Australian market
Chandigarh, May 20, 2014: The Indian pharma firm Venus Remedies has received marketing authorisation for its antibiotic drug Meropenem from Australian regulator TGA. The company plans to tie up with Lupin to sell the drug in this market.
It is believed that the company will launch the drug by the third quarter of 2014 and is eyeing a sizeable share in the US% 15 million Meropenem market in Australia.
"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 Pawan Chaudhary, Chairman and MD, Venus Remedies.
It may be noted here that Meropenem if 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 is already selling this drug in markets like Europe, New Zealand and Saudi Arabia. In fact, the company is in the process of extending its sales operations to other markets like Canada and Switzerland.