Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer, and bladder carcinoma, has obtained marketing authorization from the UK for Venus Remedies, a distributor of cheap cancer medications throughout the world. One of the strictest healthcare regulatory bodies in the world has granted Venus Pharma GmbH, a subsidiary of Venus Remedies in Germany, a marketing authorization. With this authorization, the company will be able to provide its reasonably priced line of cancer medications to the National Health Service (NHS) in the UK and surrounding nations.
The approval of Cisplatin will also speed up the approval of Venus Remedies’ oncology products in many other nations that use the UK as a model for expedited approval procedures. This will create opportunities for the company to sell unapproved products in numerous international markets. According to Venus Remedies’ president of worldwide critical care, Saransh Chaudhary, “the company plans to boost its sales in the UK to roughly Euro 2 million this year. By concentrating on seven compounds that are currently registered in the UK and increasing their sales by 20% annually, that is what we intend to do. In order to extend our business and boost our sales in the UK and other European nations, we also intend to introduce new compounds there.
Cisplatin’s market size was estimated to be worth US$ 394.5 million globally in 2021, and it is anticipated to increase to US$ 661.16 million by 2027, at a CAGR of 8.99%. At least 5% of this drug’s global market share is held by the UK. Relevantly, the UK MHRA has granted Venus Remedies many marketing authorizations for a variety of medications, including, but not limited to, gemcitabine, bortezomib, meropenem, docetaxel, carboplatin, and ceftazidime.
“We will improve our position in regulated markets in the Middle East, Latin America, and other regions in Europe by obtaining marketing authorizations for our medications in the UK. We gain a lot of credibility and are able to simplify the registration procedure in other areas because we have product registrations from reputable regulatory organisations like the UK MHRA, according to Chaudhary. Venus Remedies may be able to speed up the registration of its oncology medicine Paclitaxel, which is currently pending with the MHRA, if Cisplatin is approved in the UK. “We are also about to submit an application for Bendamustin’s marketing authorization in the UK, which is a chemotherapy drug used to treat chronic lymphocytic leukaemia. Taking into account elements like safety, efficacy, and quality, the registration process for each drug is assessed on a case-by-case basis, which varies from country to country,” he added.
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