Pharmaceutical heavyweight Venus Remedies Ltd has announced that it has recently secured marketing authorizations for its oncology drugs, carboplatin, and bortezomib, in Morocco and the Philippines, respectively. These approvals mark a significant step towards growing their oncology range and meeting global cancer treatment demand. The markets in both regions are projected to likely to grow in the coming years.
These key approvals mark a significant advance in the company's strategy to enhance its oncology drug range and address the increasing global demand for cancer treatments. 'We are on course to becoming the top oncology supplier in Southeast Asia,' stated Saransh Chaudhary, president of Global Critical Care at Venus Remedies.
In the Philippines, one of the largest markets in the ASEAN region, the oncology sector is forecasted to grow from USD 400 million in 2022 to USD 790 million by 2030. The bortezomib authorization will empower Venus Remedies to deliver cutting-edge cancer solutions across Southeast Asia, as per the company. Similarly, in Morocco, where the oncology drug market is poised to reach USD 150.8 million by 2029, the approval of carboplatin will bolster Venus Remedies' foothold in the African market.
“These authorizations underscore our dedication to offering innovative and accessible healthcare solutions globally”, said Aditi K Chaudhary, president of the international business division. The Panchkula-based company now holds 15 authorisations in Morocco and 69 in the Philippines.