Drugmaker Venus Remedies said on Tuesday it has received approvals from the U.K. and New Zealand for anti-bacterial drug carbapenem.

The approval allows Venus to launch carbapenem, the generic version of branded drug Meropenem, in 13 European countries, it said.

The drug has an annual market size of $250 million (157 million pounds) in Europe and $20 million in New Zealand, it said.

(Reporting by Kaustubh Kulkarni; Editing by Rajesh Pandathil)