Venus Remedies Secures Marketing Approval for Oncology Drugs in Serbia, Expands Global Footprint

12 Jan 2024 , 03:18 PM

Venus Remedies, a leading pharmaceutical company, has obtained marketing authorization in Serbia for its oncology drugs gemcitabine and docetaxel.

This approval marks the company’s 511th marketing authorization for oncology products, covering 66 countries globally.

Serbia, where Venus Remedies has secured five marketing approvals, particularly emphasizes oncology drugs as a major component of the pharmaceutical market.

The Serbian market, with a prevalence of breast cancer, ovarian cancer, pancreatic cancer, lung cancer, and intestinal cancers, is a significant contributor to the global oncology market.

The global oncology market was valued at USD 286.04 billion in 2021, and it is expected to reach USD 536.01 billion by 2029, with a projected CAGR of 8.2%.

Venus Remedies, with over 40 marketing authorizations in South Eastern Europe and the Balkan region, including nine for oncology drugs, aims to leverage the registrations for gemcitabine and docetaxel in Serbia for quicker approvals in other countries in the region.

The company had recently obtained marketing authorization for gemcitabine in Bosnia and marketing approvals for docetaxel in Georgia, along with two other essential cancer drugs in Moldova.

These authorizations not only facilitate geographical expansion but also demonstrate Venus Remedies’ commitment to advancing cancer treatment options.

Aditi K Chaudhary, President of International Business at Venus Remedies, sees the marketing authorization in Serbia as a significant milestone that will enhance access to affordable cancer drugs in the region.

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