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Venus Remedies gets GMP renewal certification from Ukraine's SMDC
The certification applies to the company's Unit-II manufacturing facility located in Baddi, Himachal Pradesh, covering its cephalosporin, non-cephalosporin (carbapenem), and oncology parenteral production lines, including liquid and lyophilized injections, Venus Remedies said in a statement.
"Renewal of the Ukrainian GMP certification underlines our unwavering commitment to maintaining world-class manufacturing standards. This milestone not only reinforces our foothold in the Ukrainian market but also facilitates deeper penetration into PIC/S markets, significantly enhancing our international growth prospects," Venus Remedies President, Global Critical Care, Saransh Chaudhary said.
Ukraine, being a member of the Pharmaceutical Inspection Co-operation Scheme (PIC/S) consortium, comprising 56 countries spanning Europe, Asia, Oceania, and the Americas, further amplifies the global acceptance and strategic importance of this certification.
Venus Remedies already has a robust presence in 32 PIC/S countries, including South Africa, Thailand, Malaysia, Saudi Arabia, and Australia, with plans for continued expansion, it said.
The Ukrainian pharmaceutical market, projected to grow at a CAGR (compound annual growth rate) of 3.9 per cent and reach USD 822.26 million by 2029, is driven largely by increased demand for generics and oncology treatments.
Venus Remedies, with over two decades of experience in Ukraine and 44 product registrations to date, views this certification as pivotal for sustained growth and expanded access within the broader Asia Commonwealth of Independent States (CIS) region.
Aditi K Chaudhary, President, International Business, Venus Remedies Ltd, said, "Ukraine continues to be a key strategic market for us. This renewed GMP certification enhances our credibility with regulators and partners across the region, enabling us to deepen our market presence, expand product portfolios, and provide high-quality medicines to a wider patient base".
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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