Close on the heels of the marketing approval for a key cancer drug from the UK Medicines and Healthcare products Regulatory Agency (MHRA), Venus Remedies has received marketing authorisation for two more cancer drugs from the Philippines and Iraq.
While Venus Remedies has secured marketing approval for bleomycin from Philippines, it has entered the Iraq market for the first time with a product registration for gemcitabine.
The $5-billion pharma market of Philippines, a growing market for cancer drugs where Venus Remedies has so far secured marketing approval for 37 products across various segments, presents immense opportunities to the company to expand its operations in the Asia-Pacific region in general and Southeast Asia in particular through its elaborate range of drugs.
“While we have more than 140 marketing authorisations in the ASEAN region, including 110 for oncology drugs, we are banking on the product registration for bleomycin from Philippines to pave the way for faster approval of this drug in other ASEAN countries,” said Chaudhary.
Venus Remedies has already submitted dossiers to the Health Ministry of the Philippines government for another 50-odd marketing authorisations. Most of these pending approvals are for oncology products.
Philippines also accounts for the highest revenue for Venus Remedies from the ASEAN region.
Having secured its first marketing authorisation from Iraq, Venus Remedies expects this approval for gemcitabine from the $2.5-billion pharma market to facilitate the registration process in other Middle East countries as well.