Venus Remedies has received marketing approvals from Oman, Malaysia, Bosnia and Trinidad and Tobago for key chemotherapy drugs. With this, the company has secured 503 marketing approvals for its oncology products across 75 countries.
While Venus Remedies has secured marketing approval for pemetrexed from Malaysia, it has done product registration for docetaxel in Oman, gemcitabine in Bosnia and carboplatin, bortezomib and docetaxel in Trinidid and Tobago.
Venus Remedies has so far secured marketing approval for 27 products across various segments in Malaysia.
“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 $417 million in 2019, accounts for a sizeable revenue for Venus Remedies from the ASEAN region.
Venus Remedies expects the marketing approval for docetaxel from the $1.4-billion pharma market in Oman to facilitate the registration process in other Gulf countries as well, considering that many of them have similar regulatory requirements and processes.
Having secured its first marketing authorisation from Bosnia, Venus Remedies expects this approval for gemcitabine from the Euro 334-million pharma market to facilitate the registration process in the entire Balkan region. The company has also received marketing approvals from Trinidad and Tobago for three oncology products.
Having secured marketing approvals for key cancer drugs from the UK, Philippines and Iraq in the past two months, Venus Remedies has been constantly consolidating its position in the oncology space.