Venus Remedies expands cancer drug portfolio in South Eastern Europe
In a significant development for its oncology portfolio in South Eastern Europe, Venus Remedies Ltd has been granted marketing authorization from Serbia for chemotherapy drugs gemcitabine and docetaxel. This approval takes the company’s total marketing authorizations for oncology products to 511 across 66 countries. It marks another crucial step toward Venus Remedies’ ambition of becoming a leading supplier of oncology medicines in the Balkan and South Eastern European regions.
Venus Remedies: A Leader in Oncology Market
Oncology drugs represent a significant share of the Serbian pharmaceutical market, which is projected to reach a value of US$397.4 million in 2023. Venus Remedies Ltd has now secured five marketing approvals in the oncology space in Serbia alone. The global oncology market, driven by high incidences of various types of cancer such as breast, ovarian, pancreatic, and lung, was worth US$286.04 billion in 2021 and is expected to grow to US$536.01 billion by 2029.
Driving Cancer Treatment in South Eastern Europe
Aditi K. Chaudhary, President of International Business at Venus Remedies, stated that the company has over 40 marketing authorizations in South Eastern Europe and the Balkan region. Nine of these are for oncology drugs. Chaudhary also expressed confidence that the new approvals for gemcitabine and docetaxel in Serbia will speed up the authorization process for cancer drugs in other countries in this part of Europe.
Expansion into New Geographies
This latest milestone comes a few months after Venus Remedies Ltd secured marketing authorization for gemcitabine in Bosnia, as well as approvals for docetaxel and two other key cancer drugs in Georgia and Moldova. Aditi K. Chaudhary emphasized that these marketing authorizations will not only help Venus Remedies expand its operations into new areas but also reaffirm the company’s commitment to enhancing access to affordable and advanced cancer treatments in the region.
By securing these marketing authorizations, Venus Remedies Ltd is positioned to play a significant role in the increasingly valuable oncology market, both in Serbia and more broadly across South Eastern Europe and the Balkan region.