Venus Remedies Gets Oncology Drug Approvals in Philippines, Saudi Arabia

Chandigarh, Dec 6 (PTI) Pharma major Venus Remedies on Wednesday said it has received marketing authorisation from Philippines and Saudi Arabia for three oncology drugs.

In a statement, the Panchkula-based company said it has received regulatory approval from Philippines, the second largest market in the Association of Southeast Asian Nations (ASEAN) region, for chemotherapy drug paclitaxel and zoledronic acid.

The company also secured marketing authorisation from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region, for another oncology drug, bleomycin.

The pharmaceutical market in the Philippines is expected to reach USD 4.917 billion by 2026. The Saudi Arabian pharmaceutical market, on the other hand, is expected to grow to USD 7.19 billion by 2028, it said.

Terming the marketing authorisations from Philippines and Saudi Arabia as a significant achievement, Saransh Chaudhary, president, Global Critical Care, Venus Remedies Ltd 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."

Aditi K Chaudhary, president of the company's International Business wing, emphasised 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 South East Asia and the Middle East.