Venus Remedies today said it has received marketing authorisation for meropenem, an antibiotic drug, from Venezuela and plans to launch the product in the Latin American country in the next few months.
The company has extended its footprint in Latin America with marketing authorisation for meropenem from Venezuela, a $6-billion pharmaceutical market, Venus Remedies said in a statement.
“We are planning to launch meropenem in Venezuela in the next couple of months. The 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 CMD Pawan Chaudhary said.
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, an off-patented antibacterial agent of the carbapenem class of antibiotics, caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.
Venus has already 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’s shares today closed at Rs 264.15 apiece on the BSE, up 5.98 per cent from previous close.