Genmed Holding Corp. is focused on the delivery of low cost generic pharmaceutical drugs directly to distribution channels throughout the world. The company began its generic business in 2008 and currently operates through its 100%-owned Dutch subsidiary, Genmed B.V.
The company announced today its entry into the European generic drug market with the receipt of its first marketing and distribution license for paracetamol. Also known as acetaminophen, paracetamol is an over-the-counter drug used to treat mild to moderate pain from headaches, backaches, osteoarthritis and to reduce fever.
Genmed first filed its application paperwork for paracetamol 500 milligram tablets with the Dutch Medicines Evaluation Board in July 2008. This Board is a member of the European Medicines Agency which evaluates and monitors the efficiency, risks, and quality of human medicinal products. The submission was done under mutual recognition from these other European countries: Netherlands, Belgium, Luxembourg, Germany, France, Ireland and the United Kingdom.
The successful receipt of its license allows the company to market and distribute its generic drugs within the aforementioned countries. Genmed recently received its official marketing authorization license and has been preparing for its first shipments of paracetamol. These shipments are expected to take place within the first quarter of 2011.
For more information on Genmed Holding Corporation, visit its website at www.genmed.nl