Venus Remedies Gets Ukrainian GMP Approval For Carbapenem, Oncology Parenteral Facilities
On Wednesday, Indian pharmaceutical company Venus Remedies said that it has received Good Manufacturing Practices (GMP) certification from Ukraine for Meropenem, Oxaliplatin, Paclitaxil, Cisplatin, Imipenem/Cilastatin of its Carbapenem and Oncology production facilities at its unit in Baddi, Himachal Pradesh.
The international GMP approval will enable the company to expand its product portfolio globally with more marketing authorisations not only from Ukraine, which happens to be one of the largest pharmaceutical markets in the Common Wealth of Independent States (CIS) with a worth of USD 5 billion, but other global markets as well. Notably, India is the second largest exporter of pharma products to Ukraine after Germany.
Pharmaceutical Inspection Convention/Cooperation Scheme (PIC/S) includes 54 countries, which together represent a USD 222 billion market, and Venus Remedies is already present in 04 PIC/S member states. The company also has a presence in 16 countries in the EU, which has a market size of USD 350 billion.
The approval covers the company’s non-cephalosporin (carbapenem) and oncology parenteral facilities, comprising liquid and lyophilised injections, ampoules, liquid vials, general lyophilised vials, prefilled syringes and intravenous fluids.
Hailing the achievement, Saransh Chaudhary, President, Global Critical Care, Venus Remedies, said, "This certification is an extended recognition for our manufacturing facilities, which are on a par with international standards in terms of the quality parameters set by PIC/S member nations. This is the 5th time that we have received a PIC/S recognition for our exceptional manufacturing standards, which highlights our unwavering commitment to excellence in pharmaceutical manufacturing and solidifies our position as a leading manufacturer of fixed-dosage injectables."
