Venus Remedies receives authorization for chemotherapy drug Docetaxel

1 Jun 2023 , 01:29 PM

Venus Remedies Ltd announced that Saudi Arabia has granted marketing authorization for Docetaxel. Docetaxel is chemotherapy drug used widely.

The announcement comes three months after the company received Saudi Food and Drug Authority (SFDA) certification for all of its production facilities at its Baddi, Himachal Pradesh, unit.

The company said that demand for Docetaxel has been increasing steadily around the world owing to the rising incidence of prostate, breast, stomach, and non-small cell lung cancers. This chemotherapy drug is used as a first line of treatment for such diseases.

According to the study, docetaxel-based treatment has improved survival rates in men with castration-sensitive prostate cancer.

The global Docetaxel market is expected to grow to USD 184 billion by 2030, at a CAGR of 10.22%, stated the report.

Venus Remedies has recently been consolidating its position in the oncology space. Venus Pharma GmbH, Venus Remedies’ German subsidiary, has received authorization for marketing from the UK for the key chemotherapy drug Cisplatin. Thus, the process of registering its oncology products in many other countries that look to the UK as a reference point for fast-tracking registration is accelerated.

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