26 April 2023 | News
Company intends to increase sales in the UK to approximately 2 million Euros by focusing on seven molecules which are already registered in the country
image credit- shutterstock
Taking a decisive step towards making its entire oncology product portfolio available in the UK, Panchkula-based Venus Remedies has secured marketing authorisation from the UK for Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer and bladder carcinoma.
This marketing authorisation granted to Venus Pharma GmbH, the German subsidiary of Venus Remedies, by one of the world’s most stringent healthcare regulatory agencies will enable the company to offer its affordable range of cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries.
The registration for Cisplatin will also expedite the process of registering the oncology products of Venus Remedies in many other countries around the world which consider the UK as a reference country for fast-tracking registration and open opportunities for supplying unregistered products to several markets globally.
Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd, said, “This year, the company intends to increase its sales in the UK to approximately 2 million Euros. We plan to achieve this by focusing on seven molecules which are already registered in the UK and augmenting their sales by 20% on a year-on-year basis. We are also planning to add new molecules in the UK and other European countries, which will help us expand our operations and improve our sales in these markets.”
The global market size of Cisplatin was valued at $394.5 million in 2021 and is expected to grow to $661.16 million by 2027 at a CAGR of 8.99%. The UK holds at least 5% of the global market share for this drug.