Venus Remedies has secured regulatory approval from the Philippines for the chemotherapy medication paclitaxel and zoledronic acid, a drug used to treat metabolic bone disorders.
The company has also received marketing authorization for another chemotherapy drug, bleomycin, from Saudi Arabia.
While Saudi Arabia is the largest pharmaceutical market in the GCC region, the Philippines happens to be the second largest market in Southeast Asia.
India, December 6, 2023: Underscoring its commitment to advancing healthcare solutions worldwide, Venus Remedies Limited, a leading global pharmaceutical company, has further strengthened its global product portfolio with marketing authorization for three key drugs from the Philippines and Saudi Arabia.
Venus Remedies has received regulatory approval from the Philippines, the second largest market in the Association of South East Asian Nations (ASEAN) region, where the company has a sizeable presence, for the chemotherapy drug paclitaxel and zoledronic acid, a medication used to treat metabolic bone disorders. The company has also secured marketing authorization from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region, for another oncology drug, bleomycin.
Poised for remarkable growth, the pharmaceutical market in the Philippines is expected to reach $4.917 billion by 2026. The Saudi Arabian pharmaceutical market, on the other hand, is expected to grow to $7.19 billion by 2028 at a five-year CAGR of 5.85 percent.
Among the largest exporters of paclitaxel from India, Venus Remedies supplies the drug to many countries like Colombia, Thailand, Tanzania, Morocco, Myanmar, Indonesia, Saudi Arabia, Malaysia, Zimbabwe, Sri Lanka, Pakistan, Kenya, and Botswana. Similarly, the company is selling zoledronic acid to the Dominican Republic, Vietnam, Colombia, Jamaica, Tanzania, Zimbabwe, and Kenya. Venus Remedies is also exporting bleomycin to several countries, including Colombia, Saudi Arabia, Zimbabwe, Iraq, Chile, Costa Rica, Myanmar, and Hungary.
Terming the marketing authorizations from the Philippines and Saudi Arabia as a significant achievement, Saransh Chaudhary, President, Global Critical Care, Venus Remedies Ltd., and CEO, Venus Medicine Research Centre, said, “These marketing approvals are an endorsement of our regulatory prowess and uncompromising quality in line with rigorous global standards, making us a prominent supplier of the three drugs in 15 countries each.”
Aditi K. Chaudhary, President of the company’s International Business Wing, emphasized the strategic importance of these regulatory milestones, saying, “These approvals mark a crucial step in our international expansion strategy. We are proud to contribute to the improvement of healthcare access and outcomes in Southeast Asia and the Middle East.”
Venus Remedies remains steadfast in its mission to provide innovative and effective pharmaceutical products, thus contributing to the betterment of global healthcare. The company is looking to leverage these marketing authorizations to make a positive impact on patient care and well-being.
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