Venus Remedies gets marketing approval for cancer drugs from Uzbekistan, Palestine

Marking a significant milestone in its persistent efforts to provide access to affordable medicines in critical care segments to patients worldwide. Venus Remedies Limited, one of India's leading research-based pharmaceutical companies, has received marketing authorisations for its generic cancer drugs from Uzbekistan and Palestine. Having over 800 marketing authorizations worldwide, the company is making big strides by extending its footprint in Central Asia and Middle East with the marketing approval for Carboplatin in Uzbekistan and Docetaxel and Irinotecan in Palestine.

These countries have limited access to quality medicines, and Venus Remedies is expected to launch these drugs in the two countries in the next financial year.

These marketing authorisations have further strengthened the company's commitment to providing cost-effective generic alternatives to expensive branded drugs and improving access to affordable medicines to cancer patients in need. With these marketing approvals, the three generic cancer drugs signifying advances in cancer treatment will considerably benefit thousands of patients as well as the broader healthcare community.

Hailing the achievement Venus Remedies Joint Managing Director Dr Manu Chaudhary said, "It is a proud moment for all of us, as a significant step towards delivering healthcare solutions that are effective and have a positive impact on patients' lives. Our mission is to make cancer treatment accessible to everyone and improve outcomes. The approval of these products brings us closer to achieving this goal."

She said the marketing authorisations would help Venus Remedies further strengthen its oncology portfolio and improve its presence in the oncology space. "These two markets offer a great opportunity to us and we are aiming at capturing a sizeable share in these markets through the three cancer drugs in the very first year of their launch. We will continue to invest in our generic drug portfolio and expand to new geographies," said Chaudhary.

Venus Remedies is considered among the top class manufacturers of oncological, carbapenems and cephalosporin injectable products. and follows EU-GMP norms in all its production facilities. The company is contributing substantially in the oncology segment across the globe through its wide array of key products, which include Docetaxel. Paclitaxel, Gemcitabine, Oxaliplatin, Bortezomib and Pemetrexed.

Shares of Venus Remedies Limited was last trading in BSE at Rs. 148.60 as compared to the previous close of Rs. 149.00. The total number of shares traded during the day was 1317 in over 61 trades.

The stock hit an intraday high of Rs. 149.80 and intraday low of 148.00. The net turnover during the day was Rs. 195320.00.

Source : Equity Bulls

Keywords

VenusRemedies INE411B01019 Pharmaceuticals GenericCancerDrugs Uzbekistan Palestine MarketingAuthorisation