Venus Remedies Expands its Oncology Portfolio in South Eastern Europe

Haryana-based Venus Remedies Ltd, a pharmaceutical company specialising in oncology treatments, has recently received marketing authorisation in Serbia for two essential chemotherapy drugs, gemcitabine and docetaxel. 

These drugs are widely recognised for their efficacy in treating various types of cancer.

According to a company spokesperson, Venus Remedies has now amassed 511 marketing approvals for its oncology products, spanning 66 countries."

In Serbia, where oncology drugs hold a significant share of the pharmaceutical market, projected to reach 397.40 million USD in 2023, Venus Remedies has successfully secured five marketing authorizations, all within the oncology sector," the company reported.

Commenting on the company's expansion plans, Aditi K. Chaudhary, president of international business at Venus Remedies, said, "We currently hold over 40 marketing authorizations in this area, including nine for oncology drugs. Obtaining marketing approvals for gemcitabine and docetaxel in Serbia will pave the way for faster approvals of cancer medicines in neighboring countries.'

In addition to the Serbian authorisation, Venus Remedies has extended its presence in the Balkans and Eastern Europe by securing marketing authorisation for gemcitabine in Bosnia a few months ago. This was followed by marketing approvals for docetaxel in Georgia and two other critical cancer drugs in Moldova.

She further added, "These marketing approvals enable us to expand our operations into new geographic regions and underline our commitment to providing accessible and affordable cancer treatments. The marketing authorization received from Serbia marks a significant milestone in improving access to cancer drugs in the region,".

The prevalence of cancers such as breast cancer, ovarian cancer, pancreatic cancer, and various forms of lung and intestinal cancers plays a pivotal role in driving the global oncology market. 

In 2021, the global oncology market was valued at $286.04 billion, with projections estimating it to reach $536.01 billion by 2029, representing a compound annual growth rate (CAGR) of 8.2% from 2021 to 2030.