- Oncology drugs constitute the largest proportion of the Serbian pharmaceutical market, where Venus Remedies has so far secured five marketing approvals, all in the oncology space
- The company is banking on the product registration from Serbia to pave the way for faster approvals for other countries in Eastern Europe, the Balkan region
National, September 20, 2023: Signifying a major landmark in its pursuit of building on its oncology portfolio in South Eastern Europe, Venus Remedies Ltd, a well-known provider of affordable cancer drugs worldwide, has secured marketing authorisation from Serbia for gemcitabine and docetaxel, widely used chemotherapy drugs beneficial in the treatment of various types of cancer.
With this, the company has secured 511 marketing approvals for its oncology products across 66 countries.
Oncology drugs constitute the largest proportion of the Serbian pharmaceutical market (projected to reach US$397.40m in 2023), where Venus Remedies has secured five marketing approvals, all in the oncology space. The high prevalence of breast cancer, ovarian cancer, pancreatic cancer and cancers of the lung and intestine is a key driver of the global oncology market, which was valued at US$ 286.04 billion in 2021 and is projected to reach US$ 536.01 billion by 2029 at a compounded annual growth rate (CAGR) of 8.2 per cent from 2021 to 2030.
Terming the achievement as another important step towards achieving the company’s goal of emerging as a leading oncology medicine supplier from India in South Eastern Europe and the Balkan region, Aditi K. Chaudhary, President, International Business, Venus Remedies, said, “We have more than 40 marketing authorisations in South Eastern Europe and Balkan region, including nine for oncology drugs, and we are now banking on the product registrations for gemcitabine and docetaxel from Serbia to pave the way for faster approvals for cancer medicines in other countries in this part of Europe.”
Extending its reach in the Balkans and Eastern Europe, Venus Remedies secured a marketing authorisation for gemcitabine from Bosnia a few months ago, which was followed by marketing approvals for docetaxel from Georgia and two other key cancer drugs from Moldova.
“These marketing approvals will not only enable us to expand our operations to new geographies but also reaffirm our commitment to open new avenues for advanced cancer treatment. The marketing authorisation from Serbia is a significant milestone that will help improve access to affordable cancer drugs in the region.” said Aditi K. Chaudhary.