Updated on 31 August 2014
This achievement has once again proved the company's expertise in developing world-class products
Singapore: Venus Remedies, a leading research-based global pharmaceutical company, has achieved a landmark by securing its first marketing authorization in Switzerland from Swiss drug authority Swissmedic for Gemcitabine, an oncology drug, through Venus Pharma GmbH, its Germany-based subsidiary.
This marketing approval for Gemcitabine 200 mg and 1 g injections will help Venus Remedies further strengthen its oncology portfolio and improve its presence in the oncology space. The company is planning to launch the drug early in the next quarter of this fiscal year. The product will be launched in Switzerland by Swiss Pharma GmbH, with which Venus has a marketing tie up.
Being among the first few pharma firms to receive a marketing authorization for Gemcitabine and the first Indian company to get a marketing approval for this product from Switzerland, Venus enjoys a competitive edge over other players and is all set to capture a substantial share in the Swiss market for Gemcitabine. The launch of this product will add to the company's top line and bottom line in the coming quarters.
This achievement has, once again, proved the company's R&D capabilities and its expertise in developing world-class products with regulatory might, considering that the dossier was developed as per international guidelines, as a generic against the originator's product (Gemzar of Eli Lilly's, a major global pharma player).
Venus Remedies has already received more than 20 marketing approvals for Gemcitabine injection from various countries. The product is being sold in the UK, Poland and Germany. Riding on this marketing approval, the company is expecting to generate good revenue this year.