Venus Remedies has announced the successful renewal of its European Good Manufacturing Practices (EU GMP) certification by Infarmed, the National Authority of Medicines and Health Products in Portugal. This renewal, applicable to the company's state-of-the-art manufacturing facility for cephalosporin, carbapenem, and oncology (liquid and lyophilized injectable) formulations, not only reaffirms Venus Remedies' commitment to the highest European quality standards but also enhances its growth trajectory within and beyond the European Union.
The company, a market leader in the production of the broad-spectrum antibiotic meropenem, particularly in Italy, has expanded its reach across more than 15 European countries, including key markets like the UK and France. The Infarmed audit, focused on our rigorous quality control systems, validates our ongoing initiatives to deliver superior pharmaceutical products, capable of treating a broad range of severe and drug-resistant infections.
""Since our first EU GMP certification in 2007, we have not only maintained but strengthened our foothold in the European market. This latest certification renewal enables us to leverage our established presence and continue our expansion into new markets. We expect this to significantly contribute to our sales, with anticipated revenues of at least €14 million annually from Europe alone," remarked Saransh Chaudhary, president of global critical care, Venus Remedies, and CEO of Venus Medicine Research Centre.
With the antibiotics market in Europe projected to grow to USD 10.9 billion by 2023 and the oncology drugs market expected to reach USD 36.95 billion by 2025, Venus Remedies is poised for significant growth. The company's extensive marketing authorizations across Europe reinforce its status as a trusted supplier of high-quality antibiotics and oncology treatments.
Aditi Chaudhary, president of international business at Venus Remedies, said, "This EU-GMP certification is pivotal, ensuring that Venus Remedies continues to provide dependable and effective healthcare solutions across Europe. It positions us to expand our reach not just within the EU, but also into Rest of World (ROW) markets, capitalizing on emerging opportunities and fostering growth in regions that demand high-quality pharmaceutical products.""