- Oncology drugs constitute the largest proportion of the Serbian pharmaceutical market, where Venus Remedies has so far secured five marketing approvals, all in the oncology space
- The company is banking on the product registration from Serbia to pave the way for faster approvals for other countries in Eastern Europe, the Balkan region
National, September 20, 2023: Signifying a major landmark in its pursuit of building on its oncology portfolio in South Eastern Europe, Venus Remedies Ltd, a well-known provider of affordable cancer drugs worldwide, has secured marketing authorisation from Serbia for gemcitabine and docetaxel, widely used chemotherapy drugs beneficial in the treatment of various types of cancer.
With this, the company has secured 511 marketing approvals for its oncology products across 66 countries.
Oncology drugs constitute the largest proportion of the Serbian pharmaceutical market (projected to reach US$397.40m in 2023), where Venus Remedies has secured five marketing approvals, all in the oncology space. The high prevalence of breast cancer, ovarian cancer, pancreatic cancer and cancers of the lung and intestine is a key driver of the global oncology market, which was valued at US$ 286.04 billion in 2021 and is projected to reach US$ 536.01 billion by 2029 at a compounded annual growth rate (CAGR) of 8.2 per cent from 2021 to 2030.
Terming the achievement as another important step towards achieving the company’s goal of emerging as a leading oncology medicine supplier from India in South Eastern Europe and the Balkan region, Aditi K. Chaudhary, President, International Business, Venus Remedies, said, “We have more than 40 marketing authorisations in South Eastern Europe and Balkan region, including nine for oncology drugs, and we are now banking on the product registrations for gemcitabine and docetaxel from Serbia to pave the way for faster approvals for cancer medicines in other countries in this part of Europe.”
Extending its reach in the Balkans and Eastern Europe, Venus Remedies secured a marketing authorisation for gemcitabine from Bosnia a few months ago, which was followed by marketing approvals for docetaxel from Georgia and two other key cancer drugs from Moldova.
“These marketing approvals will not only enable us to expand our operations to new geographies but also reaffirm our commitment to open new avenues for advanced cancer treatment. The marketing authorisation from Serbia is a significant milestone that will help improve access to affordable cancer drugs in the region.” said Aditi K. Chaudhary.
About Venus Remedies
Panchkula-based Venus Remedies Ltd (NSE: VENUSREM, BSE: 526953) is among the 10 leading fixed-dosage injectable manufacturers in the world. Having a commercial presence in 70+ countries with a portfolio of 75 products spread over Europe, Australia, Africa, Asia-Pacific, Commonwealth States, the Middle East, Latin America and the Caribbean region, the company has nine globally benchmarked facilities in Panchkula, Baddi and Werne (Germany), apart from 11 overseas marketing offices. Its manufacturing units are certified for ISO 9001, ISO 14001, ISO 18001 and OHSAS. The company has also been approved by European- GMP, WHO-GMP and Latin American GMP (INVIMA), among others. Ranked 107th in Asia and among the world’s 500 largest pharmaceutical manufacturing companies, Venus Remedies has been granted more than 130 patents worldwide and having more than 125 registered trademarks and 25 copyrights for its innovative research products.