The UK has granted marketing authorisation to Venus Remedies Ltd for Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer, and bladder carcinoma. This approval enables the company to offer its affordable cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries. The global market size of Cisplatin was valued at US $394.5 million in 2021 and is projected to grow to US $661.16 million by 2027 at a CAGR of 8.99%, with the UK holding at least 5% of the global market share.
Saransh Chaudhary, President of Global Critical Care at Venus Remedies, stated that the company aims to increase its sales in the UK to approximately 2 million Euros this year by focusing on seven molecules already registered in the UK and augmenting their sales by 20% year-on-year. In addition, Venus Remedies plans to introduce new molecules in the UK and other European countries to expand its operations and improve sales in these markets.
The registration for Cisplatin in the UK could potentially expedite the registration of the oncology product Paclitaxel, which is pending with the MHRA. Venus Remedies is also preparing to apply for marketing authorisation for Bendamustin, a chemotherapy medication used in the treatment of chronic lymphocytic leukaemia, in the UK. The company has already received multiple marketing authorisations from the UK MHRA for a wide range of drugs, including Gemcitabine, Bortezomib, Meropenem, Docetaxel, Carboplatin, and Ceftazidime. Obtaining marketing authorisations in the UK would help the company strengthen its position in regulated markets, such as the Middle East, Latin America, and Europe. Having product registrations from a recognized regulatory agency like the UK MHRA lends credibility and enables Venus Remedies to streamline the registration process in other markets.