- Venus Remedies makes its maiden entry into Azerbaijan’s pharmaceutical market
- The company has over a dozen marketing authorisations for enoxaparin worldwide
Mumbai, December 13, 2023: Venus Remedies Limited, a leading fixed-dosage injectable manufacturer, has reached a significant milestone with a marketing authorisation from Azerbaijan for the first time for enoxaparin, an anticoagulant that plays a crucial role in addressing blood clot formation in patients suffering from deep vein thrombosis, acute coronary syndrome, heart attacks and pulmonary embolism.
This achievement is part of the company’s strategy to tap Azerbaijan’s pharmaceutical market, which has an annual volume of $850 million, and thereby expand into West Asia and neighbouring East European countries. Azerbaijan’s pharmaceutical market is import dominated, with India accounting for 4-5 per cent of the total pharmaceutical imports, ranking sixth among the top exporting countries.
Indian exports account for roughly Rs 500 crore of the $3 billion global enoxaparin market. Having an annual capacity of producing more than five million units of enoxaparin at its robotic line, Venus Remedies is among the largest Indian exporters of this drug.
Enoxaparin, which belongs to the group of medicines known as low molecular weight heparin, prevents existing blood clots from enlarging, facilitates the body’s natural clot breakdown processes and prevents the formation of new blood clots.
Mr Saransh Chaudhary, CEO, Venus Medicine Research Centre, commented on this significant achievement, saying, “We are proud to announce the successful marketing authorisation for enoxaparin in Azerbaijan. This regulatory approval highlights our product’s bioequivalence to the innovator compound and underscores our commitment towards facilitating global access to essential medications. Enoxaparin has proven to be a crucial drug in managing various medical conditions related to blood clotting, and we are pleased to make it available to patients in Azerbaijan for the first time.”
Ms Aditi K. Chaudhary, President, International Business, Venus Remedies, said the company aims to address critical medical needs and improve patient outcomes as a leading player in global healthcare. “The sixth largest exporter of enoxaparin from India, Venus Remedies is also selling this drug in Venezuela, Oman, Spain, Tanzania, Yemen, Uganda and Philippines, among other countries,” she said.
Having secured more than a dozen marketing authorisations for enoxaparin worldwide, Venus Remedies continues to demonstrate its commitment to advancing healthcare solutions that make a meaningful impact on global health.
