· The product registration granted to Venus Pharma GmbH, the company’s German subsidiary, by one of the world’s most stringent healthcare regulatory agencies will enable it to offer its affordable range of cancer drugs to the National Health Service in UK and neighbouring countries
· 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
Bangalore, April 25, 2023: Taking a decisive step towards making its entire oncology product portfolio available in the UK, Venus Remedies Ltd, a well-known provider of affordable cancer drugs worldwide, 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.
Hailing the achievement, 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 US $394.5 million in 2021 and is expected to grow to US $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.
Pertinently, Venus Remedies has received many marketing authorisations from the UK MHRA for a wide range of drugs, including Gemcitabine, Bortezomib, Meropenem, Docetaxel, Carboplatin and Ceftazidime, to name a few.
“Obtaining marketing authorisations for our drugs in the UK will also help us strengthen our position in regulated markets in the Middle East, Latin America and other markets in Europe. Having product registrations from a recognised regulatory agency like the UK MHRA lends us a lot of credibility and enables us to streamline the registration process in other markets,” said Chaudhary.
He said the registration for Cisplatin in the UK would potentially help Venus Remedies in expediting the registration of its oncology product Paclitaxel, which is pending with the MHRA. “We are also about to apply for the marketing authorisation for Bendamustin, a chemotherapy medication used in the treatment of chronic lymphocytic leukaemia, in the UK,” he added.
The registration process for each drug is evaluated on a case-by-case basis, which differs from country to country, taking into account factors like safety, efficacy and quality.