Venus Remedies has received good manufacturing practices (GMP) certification from Indonesia for its unit located in Baddi, Himachal Pradesh. The Indonesian National Agency for Drug and Food Control (NADFC) granted the certification after an extensive review and audit of the facility. With this, the number of international GMP certifications for Venus Remedies has gone up to 22.
The NADFC is among the drug regulatory authorities of 44 countries which are part of the Pharmaceutical Inspection Convention/Co-operation Scheme (PIC/S). Venus Remedies has already got GMP certification from three other PIC/S members, including Ukraine, TGA-Australia and European Union.
“A potentially lucrative market for our oncology product line, Indonesia records 170-190 new cancer cases annually in a population of every one lakh. We will commercially launch our products in Indonesia by the middle of this year and are projected to generate revenue of $1 million in the first year itself. With the launch of our oncology products in Indonesia, we aim at capturing the maximum share in the country’s pharma market,” said Dheeraj Aggarwal, Chief Financial Officer, Venus Remedies.
Dr Manu Chaudhary, Joint Managing Director, Venus Remedies and Director, Research, Venus Medicine Research Centre, the R&D wing of Venus Remedies, said, “It is a matter of great pride for us that our tally of PIC/S GMP certifications has gone up to four. We are expecting registrations for our 10 oncology products in the next two weeks. This GMP approval will soon pave the way for marketing authorisations from Indonesia.”
EP News Bureau – Mumbai