Venus Remedies Ltd.’s shares were up by 2.89 per cent after the company recently obtained marketing authorisation for gemcitabine and docetaxel in Serbia, marking a development in its South Eastern European oncology portfolio. These chemotherapy drugs are widely used in various cancer treatments.
This brings the total count of marketing approvals for Venus Remedies’ oncology products to 511 across 66 countries. In Serbia, oncology drugs represent a substantial portion of the pharmaceutical market, projected to reach $397.40 million in 2023.
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Venus Remedies has secured five marketing approvals exclusively in the oncology space within the Serbian market. The global oncology market, primarily driven by prevalent cancers like breast, ovarian, pancreatic, lung, and intestinal, was valued at $286.04 billion in 2021, projected to grow at a CAGR of 8.2 per cent, reaching $536.01 billion by 2029.
The shares were up by 2.89 per cent to ₹239.95 at 10.50 am on the BSE.