Venus Pharma GmbH has received such marketing authorisation by one of the world's most stringent healthcare regulatory agencies, will enable the company to offer its affordable range of cancer drugs to the National Health Services (NHS) in the UK and neighbouring countries.

The registration for Cisplatin will also expedite the process of registering the oncology products of Venus Remedies in many other countries around the world which consider the UK as a reference country for fast-tracking registration and open opportunities for supplying unregistered products to several markets globally.

Saransh Chaudhary, president, global critical care, Venus Remedies, said, "This year, the company intends to increase its sales in the UK to approximately 2 million Euros. We plan to achieve this by focusing on seven molecules which are already registered in the UK and augmenting their sales by 20% on a year-on-year basis, we are also planning to add new molecules in the UK and other European countries, which will help us expand our operations and improve our sales in these markets.

The global market size of Cisplatin was valued at $394.5 million in 2021 and is expected to grow to $661.16 million by 2027 at a CAGR of 8.99%. The UK holds at least 5% of the global market share for this drug.

Pertinently, Venus Remedies has received many marketing authorisations from the UK MHRA for a wide range of drugs, including Gemcitabine, Bortezomib, Meropenem, Docetaxel, Carboplatin and Ceftazidime to name a few.

Obtaining marketing authorisations for our drugs in the UK will also help us strengthen our position in regulated markets in the Middle East, Latin America and other markets in Europe. Having product registrations from a recognised regulatory agency like the UK MHRA lends us a lot of credibility and enables us to streamline the registration process in other markets."

Venus Remedies is a research and development driven global pharmaceutical company and among the leading injectable manufacturers in the world.

The company's consolidated net profit declined 41.8% to Rs 3.29 crore on 6% decrease in net sales to Rs 116.90 crore in Q3 FY23 over Q3 FY22.