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Pharma major Venus Remedies Ltd today announced the launch of its super speciality Oncology segment ‘Passion Oncobiz’, entailing an investment of $2 million.
“...with the launch of Passion Oncobiz, Venus will further reinforce its industry position and expects a 10 per cent growth in the market share by 2015,” the company CMD, Mr Pawan Chaudhary, said in a statement.
The anti-cancer drug segment constitutes 30 per cent of the total company sales with more than 100 market authorisations from 25 countries, including the UK, Germany, Poland, Portugal.
Currently, the domestic market is growing at an annual rate of around 30 per cent and the current sales of anti-cancer products are estimated at $150-200 million a year.
Mr Chaudhary said: “The therapies, which will be used in the treatment of cancer, will include a product basket of 21 products covering all types of cancer like lung cancer, breast cancer, cervical cancer, brain tumour, oral cancer.’’
The pharma company is eyeing total sales of Rs 425 crore by March 2012 after ending the current fiscal at Rs 360 crore. It recorded Rs 312-crore sales during the last fiscal.
The drug maker has three facilities at Panchkula (Haryana), Baddi (HP) and Germany. It has presence in 60 regulated and semi-regulated countries.
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