Venus Remedies has received marketing approval from Saudi Arabia for its product Enoxaparin in pre-filled syringes.
A company statement informed that Venus Remedies has an annual capacity of producing more than five million units of Enoxaparin, a widely used anticoagulant that prevents blood clots, at its robotic line. Having secured marketing authorisations from Saudi Arabia for six antibiotics meant for intensive care units and three oncology products, Venus Remedies has so far sold more than 12 million units of drugs in the $7.8-billion Saudi Arabian pharma market (as in 2021), which is expected to grow to $13.1 billion by 2031 at a 10-year CAGR of 5.4 per cent.
The marketing approval for Enoxaparin from Saudi Arabia is expected to soon pave the way for grant of marketing authorisations to Venus Remedies for the drug from other countries in GCC and Middle East and North Africa (MENA) regions where the submissions have already been made and consider the Saudi Food and Drug Authority (SFDA) as a reference authority.
Enoxaparin plays a role in addressing blood clot formation in patients suffering from deep-vein thrombosis, acute coronary syndrome, heart attacks and pulmonary embolism.
Reportedly, Venus is awaiting marketing approval from Saudi Arabia for another six-seven oncology drugs anytime soon.