Ø Marketing approvals for bortezomib from Philippines and carboplatin from Morocco will enable the company to enhance its presence in ASEAN, African regions
Bengaluru, September 30, 2024: Venus Remedies Ltd, a prominent oncology drug manufacturer, has secured marketing authorizations for two key cancer drugs, enhancing its global reach. The approvals include bortezomib in the Philippines and carboplatin in Morocco, boosting the company’s oncology portfolio to 508 approvals across 76 countries.
Saransh Chaudhary, President of Global Critical Care at Venus Remedies, expressed, “These approvals are pivotal in our strategy to expand our oncology range and meet the increasing global demand for cancer treatments. We are advancing toward becoming the leading oncology supplier in Southeast Asia.”
The Philippine market, the second largest in the ASEAN region, is expected to grow from US $400 million in 2022 to US $790 million by 2030. The authorization of bortezomib will enhance the company’s ability to deliver advanced cancer solutions in Southeast Asia.
In Morocco, where the oncology drug market is set to reach US $150.8 million by 2029, the approval of carboplatin will strengthen Venus Remedies’ position in the African oncology market.
Aditi K. Chaudhary, President of International Business, emphasized the company’s role in supporting global health initiatives, stating, “These authorizations reflect our commitment to providing innovative and accessible healthcare solutions worldwide.”
Venus Remedies now holds 15 authorizations in Morocco and 69 in the Philippines. These developments contribute to India’s growing pharmaceutical exports, which reached US $27.9 billion in the 2023-24 fiscal year. The global oncology market is projected to expand significantly, reaching US $518.25 billion by 2032.
