Key Takeaways
- The Venus Remedies firm now holds 503 marketing approvals for oncology products in 75 countries.
- New approvals were secured for docetaxel in Oman and gemcitabine in Bosnia, among others.
- Malaysia’s cancer‑drug market, valued at US$417 million, is a strategic entry point for the company’s ASEAN region expansion.
New Delhi: Cancer drug firm Venus Remedies on Wednesday said that it has received marketing nods from Oman, Malaysia, Bosnia and Trinidad & Tobago for key chemotherapy drugs.
“With this, the company has secured 503 marketing approvals for its oncology products across 75 countries,” Venus Remedies said.
The drugmaker said it has reached important regulatory milestones with product registration for docetaxel in Oman, gemcitabine in Bosnia and carboplatin, bortezomib and docetaxel in Trinidad & Tobago.
Terming the latest development as another important step towards achieving the company’s goal of emerging as the top oncology medicine supplier from India, Saransh Chaudhary, President, Global Critical Care, Venus Remedies, said that these marketing approvals enable the company to expand operations to new geographies and open up new avenues for advanced cancer treatment with improved outcomes for patients battling various types of cancer.
The drug firm said that the pharmaceutical market of Malaysia where it has so far secured marketing approval for 27 products across various segments presents immense opportunities for the company to expand its operations in the Asia-Pacific region in general and South East Asia in particular through its elaborate range of drugs.
“While we have more than 140 marketing authorisations in the ASEAN region, including 147 for oncology drugs, we are banking on the product registration for pemetrexed from Malaysia to pave the way for faster approval of this drug in other ASEAN countries,” said Chaudhary.
Venus Remedies has already submitted dossiers to the Malaysian Health Ministry for another nine marketing authorisations, which include pending approvals for two oncology products.
“Pertinently, Malaysia, where the market size of cancer drugs was valued at US$ 417 million in 2019, accounts for a sizeable revenue for Venus Remedies from the ASEAN region,” the pharma company said.
