The Panchkula (Haryana)-based company, Venus Remedies has received market authorisation from Mexican drug regulator for anti-bacterial drug ‘Meropenem’ and plans to launch it within the first quarter of 2013-2014. The company is poised to launch the drug in 500 mg and 1,000 mg strengths.
“We are hopeful of capturing 10 per cent of the market share within the first three years of our product launch,” company’s CFO Dheeraj Aggarwal said in a release. Meropenem sales account for USD 16.3 million in Mexico, of which, major share of 80 per cent is with innovator’s product ‘MERREM’ and rest with other local companies.
The market authorisation was granted by COFEPRIS (La Comision Federal para la Proteccion contra Riesgos Sanitarios). At present, Venus is already selling Meropenem in various markets and is in the process of further extending its sales operations in the most regulated markets which includes countries like Netherlands, France, Italy and Germany.