Venus gets Indonesian GMP certification
Venus Remedies, a leading R&D driven pharmaceutical company, has got Good Manufacturing Practices (GMP) certification from Indonesia, for its unit located in Baddi, Himachal Pradesh. The Indonesian National Agency for Drug and Food Control (NADFC) granted the certification after an extensive review and audit of the facility. With this, the number of international GMP certifications for Venus Remedies has gone up to 22.
Indonesia represents one of the most attractive and flourishing markets for pharmaceutical companies looking to expand across the Asia-Pacific region. With a sizable population of 234 million, which is witnessing a rapidly expanding middle class, Indonesia is poised to emerge as a key market of growth for the healthcare and pharmaceutical industry.
Currently worth $4.5 billion, Indonesia's pharmaceutical market is expanding at an annual rate of 12.5 percent. Pharmaceutical sales in Indonesia are expected to register a significant growth in 2012-16 at a compound annual growth rate (CAGR) of 11.5 percent in terms of the local currency. Dr Manu Chaudhary, joint managing director, Venus Remedies said, "It is a matter of great pride for us that our tally of PIC/S GMP certifications has gone up to four. Such recognitions for our manufacturing facilities and the consistent quality of our procedures and practices open tremendous opportunities for us to expand our product portfolio across the globe."
Indonesia offers a growing market for oncology products. Cancer is the sixth most leading cause of death in Indonesia after infectious diseases, cardiovascular diseases, traffic accidents, nutritional deficiency and congenital diseases.
According to the WHO, cancer kills more than 7 million people globally every year, and two-thirds of them are from developing countries. In the absence of adequate preventive measures, the number of cancer deaths is expected to go up to 17 million annually by 2030. It is estimated that 26 million people worldwide are suffering from cancer. The WHO and the International Union against Cancer (UICC) have predicted a 300 percent rise in the number of cancer cases by 2030 with developing countries like Indonesia accounting for 70 percent of these cases.