Mylan Signs Non-Exclusive Agreement To Market Venus' Antibiotic
By Lori Clapper
Mylan Pharmaceuticals and Venus Pharma, a Germany based subsidiary of Venus Remedies, today announced a distribution-cum-out licensing partnership to market Venus’ antibiotic, Meropenem, in three European countries.
The agreement enables Venus Remedies to market the drug in Denmark, Sweden, and Finland for a period of five years, with an estimated market value of Euro 12.54 million, the Economic Times reported.
Under the nonexclusive agreement, the drug will be manufactured at the Venus Baddi plant located in Himachal Pradesh, India, which currently has the capacity to manufacture 16 million units of Meropenem a year. All batch logistics operations will be handled at its German facility, the Business Standard reports.
Ashutosh Jain, Executive Director-cum-Chief Operg Officer (COO), of Germany-based Venus Pharma, said that this joint venture helps Venus Pharma and its collaborators to “re-establish the faith of our customers in our quality standards and timely deliveries. This joint venture will further help Venus Pharma GmbH and its collaborators in maintaining their market position to figure among the top five players with around 30 percent share in Meropenem markets in countries like Germany, France, and the U.K.”
Mylan currently markets products in about 140 countries and territories. This newest arrangement between the two companies is not the first time the two have worked together; they are both currently teamed up in a non-exclusive marketing partnership for Meropenem in France.
In addition, Mylan introduced its own new generic version of Upsher-Smith’s Klor-Con last week, securing final approval from the U.S. Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for the product. The drug was designed as a Potassium Chloride extended-release tablet to treat patients with hypokalemia, a condition in which the concentration of potassium (K+) in the blood is low.
According to IMS Health, these types of tablets garnered $135.05 million in U.S. sales between June 2013 and June 2014.
Currently, Mylan says it has 294 ANDAs pending FDA approval, which represents $105.7 billion in annual brand sales.