Venus Remedies Gets Marketing Nod for Sugammadex in Philippines

New Delhi, Mar 4 (PTI) Venus Remedies on Tuesday said it has received marketing authorisation for a medication used to reverse neuromuscular blockade from the Philippines authorities.

The company has received its first-ever global marketing authorisation for Sugammadex and the approval marks a major step in the company's expansion into complex generics, expanding its foothold in the ASEAN market, Venus Remedies said in a statement.

Sugammadex is a selective relaxant-binding agent (SRBA) used for the rapid reversal of neuromuscular blockade induced by rocuronium and vecuronium,?two commonly used muscle relaxants in anesthesia.

Unlike traditional agents, Sugammadex directly encapsulates and inactivates these drugs, offering a faster, safer, and more predictable recovery from anesthesia, reducing the risk of post-operative respiratory complications.

The global Sugammadex market, valued at around USD 1.53 billion in 2023, is projected to grow at a CAGR of 8.5 per cent, reaching USD 2.89 billion by 2031.

"There is a growing demand for advanced surgical care and high-growth therapeutic segments in the Philippines which makes this approval particularly relevant," Venus Remedies President Global Critical Care stated.

Shares of Venus Remedies were trading 0.96 per cent down at Rs 285.05 apiece on BSE.