Latest news with #PharmaceuticalInspectionCo-operationScheme
Time of India
24-05-2025
- Business
- Time of India
Venus Remedies gets Ukrainian GMP renewal certification
Pharma major Venus Remedies on Saturday said it has successfully renewed its good manufacturing practices (GMP) certification from Ukraine's State Service on Medicines and Drugs Control (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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like ansoim - Manufacturing Today OMEA Award for Indian Manufacturers ansoim Learn More Undo 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 . Live Events 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".
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Business Standard
24-05-2025
- Business
- Business Standard
Venus Remedies gets GMP renewal certification from Ukraine's SMDC
Pharma major Venus Remedies on Saturday said it has successfully renewed its good manufacturing practices (GMP) certification from Ukraine's State Service on Medicines and Drugs Control (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.)
Korea Herald
02-04-2025
- Business
- Korea Herald
S. Korea seeks to boost animal medicine market to W4tr by 2035: ministry
South Korea will work to triple the size of the animal medicine market to 4 trillion won ($2.7 billion) by 2035 as part of efforts to foster new growth engines for the economy, the agriculture ministry said Wednesday. The government also aims to increase the country's exports of veterinary medicine products fivefold to 1.5 trillion won and create 15 animal pharmaceutical companies with an annual revenue of at least 50 billion won each over the next 10 years, according to the Ministry of Agriculture, Food and Rural Affairs. The ministry said the plan comes amid growing demand for animal pharmaceutical products around the globe, sparked by an increase in pet ownership, livestock product consumption and infectious diseases in animals. To achieve the goal, the government will initiate a large-scale research and development project to secure core technologies needed for the development of new drugs for animals, including vaccines for infectious animal diseases. It also plans to expand infrastructure for the animal pharmaceutical industry and adopt measures to strengthen the quality and safety of veterinary medicines and expedite the novel drug development process. The ministry said it will push for the legislation of a special law aimed at fostering the industry. To expand exports, the ministry plans to improve guidelines for good manufacturing practices for veterinary medicines to align them with global standards and work to join the international Pharmaceutical Inspection Co-operation Scheme by 2038 as part of efforts to gain a foothold in the American and European markets. "The ministry will work to foster the growth of the animal medicine industry in the mid-to-long term to make it a new growth engine for the economy," Agriculture Minister Song Mi-ryung said. (Yonhap)
