Indian pharmaceutical company Venus Remedies Ltd. received authorization from Moroccan regulators to use a new oncology drug, carboplatin, in Morocco, capitalizing on the projected growth of the Moroccan oncology market, which is expected to reach USD 150.8 million by 2029, according to Devdiscourse.
At the same time, Venus Remedies has also secured marketing approval in the Philippines for another oncology drug, bortezomib. One of the largest markets in the ASEAN region, the oncology sector in the Philippines is forecast to grow from USD 400 million in 2022 to USD 790 million by 2030, positioning the company to meet the increasing demand for cancer therapies across Southeast Asia.
Saransh Chaudhary, the President of Global Critical Care at Venus Remedies, said, “These marketing authorizations are pivotal to our global strategy to become a leader in oncology treatments. With Morocco and the Philippines now onboard, we are strengthening our international footprint.”
Venus Remedies has been steadily increasing its presence in global markets. The company now holds 15 drug authorizations in Morocco and 69 in the Philippines, reinforcing its commitment to providing cutting-edge and affordable healthcare solutions worldwide.
Aditi K. Chaudhary, President of International Business Division at Venus Remedies, commented on the broader impact of these developments. “Our goal is to make high-quality cancer treatments accessible to patients globally, and these authorizations demonstrate our dedication to achieving that.”
The company’s expansion into the oncology drug market in both Morocco and the Philippines highlights its strategic efforts to cater to the rising global need for cancer treatments.