Venus Remedies tied up with Israel-based generic drug maker Teva

Pharmaceutical firm Venus Remedies tied up with Israel-based generic drug maker Teva on 1 September 2014 for selling...

Created On: Sep 2, 2014 11:30 ISTModified On: Sep 2, 2014 11:34 IST

Pharmaceutical firm Venus Remedies tied up with Israel-based generic drug maker Teva on 1 September 2014 for selling an anti- cancer drug in the Canadian market.

Details of the collaborative agreement
• Initially, Venus Remedies would be manufacturing the anti- cancer drug at its research unit Venus Medicine Research Centre for assisting Teva in registrations.
• Thereafter, Venus will assist Teva in enhancing the business from this drug in the Canadian market through its manufacturing capabilities.
• Teva will use the infrastructure and regulatory competence of Venus for the commercialization of this anti-cancer product in the Canadian market
• This association will help Venus capture a sizeable market share for this product in the first year of the agreement.

The anti-cancer drug

The high-potential drug is under patent protection till 2016. The drug is mainly used for the treatment of malignant pleural mesothelioma and non-squamous non-small cell lung cancer.

The market size of this anti-cancer drug in Canada is 75-100 million US dollars.

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