Venus Remedies Ltd on Wednesday announced that it has secured marketing authorisation from Serbia for gemcitabine and docetaxel. According to the company’s statement, it is an 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, the company stated.
“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,” the company said in a statement.
“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,” Aditi K. Chaudhary, President, International Business, Venus Remedies, said in a statement.
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, it added.
“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 Chaudhary.
