Venus Remedies has been awarded a contract for supply of their anti cancer product docetaxel to Thailand by the Government Pharmaceutical Organization (GPO) under Ministry of Health, Thailand. The contract has been awarded through the scheme of compulsory license issued by the GPO.
The highlight of this award is that the patent of the product docetaxel of the innovator is still valid in Thailand and the award has been given on the basis of quality product at affordable prices.
The GPO, after importing the drug, would make it available amongst the poor who cannot afford high-cost anti-cancer drugs. The GPO approved its manufacturing facility for the supply of the product after conducting plant audit as per international standards.
“The contract is valid for one year and is expected to generate a business of more than Rs.100 million to the company. We have tie-up with a local pharmaceutical group for marketing and distribution of the product to the entire Thai market. The supply of this product will begin by November 2010,” informed Pawan Chaudhary, CMD, Venus Remedies.
Total pharma market in Thailand is about $2.9 billion. Venus already has 10 product registrations in Thailand for oncology and anti-infective segments and has established itself as a quality supplier of oncology products with its products being used now in many hospitals and institutions, Chaudhary said.
Sanofi-aventis is the patent holder for docetaxel, which it markets under the brand name Taxotere. Venus won the contract on the platform of open bidding system as prevalent in Thailand. The company had to face a multi-national pharmaceutical company from Germany as the rival bidder. With this prestigious award Venus will now further strengthen its stronghold in the Thai pharmaceutical market.