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By Jomy Jos Pullokaran Feb 23, 2023 3:43:48 PM IST (Updated)
Having over 800 marketing authorisations worldwide, Venus Remedies is making big strides by extending its footprint in Central Asia and the Middle East with the marketing approval for carboplatin in Uzbekistan and docetaxel and irinotecan in Palestine.
Venus Remedies was on a downward trend and hit a 2-year low in Thursday’s session. But today, it is one of the biggest gainers with healthy volumes. The stock is currently up 17 percent on the back of cancer drug approval. The company in its disclosure to exchanges yesterday evening informed that it has received marketing approval for cancer drugs from Uzbekistan, Palestine regulators.
Speaking about the approval, Venus Remedies Joint Managing Director Manu Chaudhary says, "The marketing authorisations would help us further strengthen our oncology portfolio. These two markets offer a great opportunity to us, and we are aiming at capturing a sizeable share in these markets through the three cancer drugs in the very first year of their launch."
The company is expected to launch these drugs in those markets in the next financial year.