Venus Remedies’ Cisplatin Marketing Authorisation Paves the Way for Expansion in the UK and European Oncology Markets
Venus Remedies Ltd has received marketing authorisation from the UK for Cisplatin, a chemotherapy drug used to treat advanced ovarian cancer, testicular cancer, and bladder carcinoma. This approval allows the company to supply its cost-effective range of cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries. 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%, with the UK holding at least 5% of the global market share for the drug.
Saransh Chaudhary, President of Global Critical Care at Venus Remedies, revealed that the company intends to increase its sales in the UK to approximately 2 million Euros this year. They plan to achieve this by focusing on seven molecules already registered in the UK and boosting their sales by 20% on a year-on-year basis. Chaudhary also mentioned that Venus Remedies plans to introduce new molecules in the UK and other European countries to expand its operations and improve sales in these markets.
The registration for Cisplatin in the UK could potentially accelerate the registration of the oncology product Paclitaxel, which is pending with the MHRA. Additionally, the company is preparing to apply for marketing authorisation for Bendamustin, a chemotherapy medication used to treat chronic lymphocytic leukaemia, in the UK.
Venus Remedies has already received multiple marketing authorisations from the UK MHRA for a wide range of drugs, including Gemcitabine, Bortezomib, Meropenem, Docetaxel, Carboplatin, and Ceftazidime. The registration for Cisplatin will further speed up the process of registering Venus Remedies’ oncology products in other countries that consider the UK as a reference country for fast-tracking registration, thereby opening opportunities for supplying unregistered products to several markets worldwide.
Chaudhary also highlighted that obtaining marketing authorisations in the UK would help the company strengthen its position in regulated markets in the Middle East, Latin America, and Europe. Having product registrations from a recognised regulatory agency like the UK MHRA lends credibility and streamlines the registration process in other markets.