Venus Remedies gets nod from UK, New Zealand for antibiotic drug

NEW DELHI: Drug firm Venus Remedies today said it has received approvals from health authorities in the UK and New Zealand for marketing its generic injectable antibiotic Meropenem which is used for treating bacterial infections.

The company has received approvals from Medicines and Healthcare products Regulatory Agency ( MHRA) UK and New Zealand Ministry of Health for its generic Meropenem, Venus Remedies said in a filing to BSE.

The drug will be launched in this fiscal year, it added. "Meropenem sales account for USD 906 million across the globe, which is estimated to grow to USD 1,006 million by 2012," Venus Remedies said.

The company is already selling the drug in various markets and is in the process of extending its sales in other regulated markets, it added.

Shares of Venus Remedies today closed at Rs 182 on BSE, down 2.47 per cent from its previous close.