Download Unicorn Signals App

Powered By EquityPandit

Venus Remedies Receives Marketing Authorisation for Three Oncology Drugs

Shares of Venus Remedies jumped as it received marketing authorisation for two new drugs in Europe. 

Panchkula-based Venus Remedies, 6 December, announced that it has received marketing approval from the Philippines and Saudi Arabia for three oncology drugs.

In its regulatory filing, the company said that it had received regulatory approval from the second largest market in the Association of Southeast Asian Nations (ASEAN) region, Philippines, for its chemotherapy drug paclitaxel and zoledronic acid.

The company has also secured marketing authorisation for its other oncology drug, bleomycin, from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council region.

The pharmaceutical market in the Philippines is expected to grow and reach $4.917 billion by 2026, while the Saudi Arabian pharma market is expected to grow to $7.19 billion by 2028.

Saransh Chaudhary, president of Global Critical Care, Venus Remedies Ltd said, “These marketing approvals are an endorsement of our regulatory prowess and uncompromising quality in line with rigorous global standards, making us a prominent supplier of the three drugs in 15 countries.”

Aditi K Chaudhary, president of the company’s International Business wing, said, “These approvals mark a crucial step in our international expansion strategy. We are proud to contribute to the improvement of healthcare access and outcomes in South East Asia and the Middle East.”

Get Daily Prediction & Stocks Tips On Your Mobile