Venus Remedies Gets Nod to Market Generic Antibiotic in Switzerland

New Delhi: Drug firm Venus Remedies has received approval from the Swiss drug authority - Swissmedic - to market in the country its generic injectable antibiotic meropenem used for treating infections.

Venus Remedies in a statement said it has received marketing authorisation from the drug authority through its German arm Venus Pharma GmbH for meropenem 500 mg and 1 g injections.

"With plans to launch this product early next year through our partner Swiss Pharma GmbH Zurich, we will be able to capture 10 per cent share in the meropenem market of Switzerland," Venus Remedies chairman and managing director Pawan Chaudhary said.

Being among the first few companies to receive marketing authorisation from Switzerland for this drug, Venus enjoys a distinct advantage, the company said.

Meropenem is a last-resort drug of the carbapenem class of antibiotics used in intensive care units (ICUs) of hospitals, it added.

"The global annual sale of meropenem, which stood at $1,879 million in 2012, is estimated to grow at a compounded annual growth rate of 7.5 per cent to reach around $2,100 million in 2014-15," Venus Remedies said.

The drug is used in the treatment of severe bacterial infections like pneumonia, broncho-pulmonary infections in cystic fibrosis, complicated urinary tract infections among others.

The company has secured more than 40 marketing authorisations for meropenem throughout the world from countries like the UK, France, Germany, Saudi Arabia, Australia and Italy, among others, Venus Remedies said.