Venus Remedies Ltd has secured marketing authorisation from the UK for Cisplatin, a chemotherapy drug employed in the treatment of advanced ovarian cancer, testicular cancer, and bladder carcinoma. This development allows the company to supply its affordable range of cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries. The global market size of Cisplatin was valued at US $394.5 million in 2021 and is projected to grow to US $661.16 million by 2027 at a CAGR of 8.99%, with the UK accounting for at least 5% of the global market share.
Saransh Chaudhary, President of Global Critical Care at Venus Remedies, shared that the company aims to increase its sales in the UK to approximately 2 million Euros this year by focusing on seven molecules already registered in the UK and augmenting their sales by 20% on a year-on-year basis. Chaudhary added that the company also plans to introduce new molecules in the UK and other European countries to expand its operations and improve sales in these markets.
The Cisplatin registration in the UK could potentially expedite the registration of the oncology product Paclitaxel, which is pending with the MHRA. Furthermore, Venus Remedies is preparing to apply for marketing authorisation for Bendamustin, a chemotherapy medication used to treat chronic lymphocytic leukaemia, in the UK.
Chaudhary emphasized that obtaining marketing authorisations in the UK would help the company strengthen its position in regulated markets, such as the Middle East, Latin America, and Europe. Having product registrations from a recognized regulatory agency like the UK MHRA lends credibility and enables Venus Remedies to streamline the registration process in other markets.