Venus Remedies, a global cancer drugs provider has secured marketing authorisation for two more cancer drugs from the Philippines and Iraq. In the Philippines, the second-largest market in the Association of Southeast Asian Nations (ASEAN) region, Venus Remedies has secured marketing approval for Bleomycin. The company has entered the Iraq market for the first time with a product registration for Gemcitabine.

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Bleomycin is used to treat squamous cell cancer of the head and neck regions, Hodgkin's lymphoma, and testicular carcinoma in adults. Gemcitabine is used in combination with Cisplatin to treat a type of lung cancer.

Venus Remedies is also close on the heels of marketing approval for a key cancer drug from the UK Medicines and Healthcare Products Regulatory Agency (MHRA). The Philippines is a $5-billion pharmaceutical market, where Venus Remedies has so far secured marketing approval for 37 products across various segments, Saransh Chaudhary of Venus Remedies says.

In the Philippines, where the market size of cancer drugs was valued at $252 million in 2020 and is expected to grow at a CAGR of 8.7 percent by 2025, also accounts for the highest revenue for Venus Remedies from the ASEAN region.

"While we have more than 140 marketing authorisations in the ASEAN region, including 110 for oncology drugs, we are banking on the product registration for Bleomycin from Philippines to pave the way for faster approval of this drug in other ASEAN countries," said Chaudhary.

Venus Remedies has already submitted dossiers to the Health Ministry of the Philippines government for another 50-odd marketing authorisations. Most of these pending approvals are for oncology products.

Venus Remedies expects approval for gemcitabine from Iraq having a $2.5-billion pharmaceutical market to facilitate the registration process in other Middle East countries as well, considering that many of them have similar regulatory requirements and processes.

Last month, Venus Remedies secured UK MHRA Marketing authorisation to market the cancer drug Cisplatin, used for the treatment of Ovarian and Testicular cancer and bladder carcinoma. In February, the company got marketing approval for its cancer drugs In Uzbekistan, Palestine as well.

Shares of Venus Remedies have surged more than 8 percent following regulator nods and are trading at the day’s high.