Pharma major Venus Remedies on Tuesday said it 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, a company statement said.
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, the Panchkula-based company said.
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Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd, said this year, the company intends to increase its sales in the UK to approximately two 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 per cent 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," he added in the statement.
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 per cent. The UK holds at least 5 per cent of the global market share for this drug.
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The company said it 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," Chaudhary said.
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.
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