VENUS REMEDIES LIMITED
Venus Remedies Limited, a leading research based global pharmaceutical company, achieved yet another landmark by receiving its first marketing authorization in SWITZERLAND from Swiss drug authority (SWISSMEDIC) for Gemcitabine 200 mg & 1 g Injection through Venus Pharma GmbH. This market approval of critically important oncology drug Gemcitabine Injection will help Venus to strengthen its oncology portfolio. The company is planning to launch this product in early next quarter within this fiscal year to expand its presence in the oncology space. Venus Pharma GmbH the German subsidary will carry out complete analysis of the goods. The product will be launched in Switzerland market by Swiss Pharma GmbH with whom Venus has a marketing tie up.
Venus has already received more than 20 marketing approval for Gemcitabine injection from various countries and is being sold in UK, Poland and Germany. By addition of this marketing approval from Switzerland, the company is expecting to generate good revenue in this year. Venus is all set to capture substantial market share by entering the market of Swiss as it stands amongst the first few to receive the Market Authorization for Gemcitabine and the first company from India to have MA in Switzerland for this product.
Gemcitabine is first line anti-cancer drug which is used in the treatment of a variety of cancerous diseases including the cancer of lungs, pancreas, bladder and breast. Gemcitabine, in combination with Cisplatin, received US-FDA & EMEA approval as a first line treatment for lung cancer which is the most common form of cancer worldwide and accounts for 1.2 million fresh cases annually. According to the European Cancer Observatory, 216,000 cases/annum are diagnosed with pancreatic cancer of which 77,940 died in 2012 alone. The mortality of pancreatic cancer is high, making it the fourth deadliest cancer for both men and women. Gemcitabine is the only approved drug for pancreatic cancer which has a survival rate of below 3% and Gemcitabine has been established as the gold standard drug therapy for this form of cancer. Gemcitabine is all set for explosive growth and remains amongst the choicest of drugs even after becoming
generic.
The very recent grant of market authorization of Gemcitabine once again proved company's R&D capabilities and its expertise in developing world class products with regulatory might. The Dossier was developed as per international guidelines, as a generic against the originator's product "GEMZAR" of Eli Lilly's . With these milestones, Venus shall be able to capture a significant share of the Gemcitabine market in Switzerland, since Venus has competitive edge against other players. Launch of this product will add to the top line and bottom line of the company in coming quarters.
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