"The company has secured marketing authorisation from Serbia for gemcitabine and docetaxel, widely used chemotherapy drugs beneficial in the treatment of various types of cancer," the company said in a regulatory filing.
"This exemption will not only enable us to reduce production costs but also empower us to invest more in research and development, enhancing our competitiveness and expanding our global reach," said Saransh Chaudhary, chief of research at Venus Remedies.
Enoxaparin plays a crucial role in addressing the grave concern of blood clot formation in patients suffering from deep-vein thrombosis. acute coronary syndrome, heart attacks and pulmonary embolism. Cardiovascular diseases are a major health issue in Saudi Arabia. which account for 145 deaths per 1 lakh population, highlighting the urgent need to mitigate clot-related complications.Venus Remedies has an annual capacity of producing more than 5 million units of Enoxaparin. A widely used anticoagulant that prevents blood clots, at its robotic line. Having secured marketing authorisations from Saudi Arabia for six anti biotics meant for in tensive care units and three oncology products. Venu Remedies has so far sold more than 12 million units of drugs in the $7.8-billion Saudi Arabian pharmaceutical market (as in 2021). Which is expected to grow to $13.1 billion by 2031 at a 10-year CAGR of 5.4 per cent.The global Enoxaparin market size was valued at US $3.04 billion in year 2021 and is projected co reach US $5.35 billion by year 2028.growing at a CAGR Of 8.3 per cent during the 2022-2028 year period. The Enoxaparin market size of Saudi Arabia. On the other hand, was US $35 million in year 2022 and is estimated to reach US $40 million by year 2025, expanding at a CAGR of 5 per cent.Saransh Chaudhary, president, global critical care, Venus Remedies, said, “The approval of Enoxaparin in pre-filled syringes is not merely an addition to our product portfolio; its a pivotal component of our FY26 strategic vision. Enoxaparins approval fortifies our commitment to innovation and our focus on PFS solutions, optimizing patient convenience and safety. Already established as a leading supplier of crucial antibiotic products in Saudi Arabia, this approval positions us to further anchor our leadership, expand our influence. and magnify our impact across the GCC and MENA regions. Our dedicated approach, along with the trust weve garnered, sets us on an exciting trajectory. aligning seamlessly with our FY26 ambitions.”Saransh also indicated that Venus is awaiting marketing approval from Saudi Arabia for another sixseven oncology drugs anytime soon. These additional approvals will enable the company to build a high-value portfolio of soon-to-be off-patent products in the GCC region.Akshansh Chaudhary, executive director, Venus Remedies, said, “the marketing authorisation for Enoxaparin from Saudi Arabia comes as an evident outcome of the Good Manufacturing Practices (GNP) certification granted to the company by the SFDA for all its production facilities at its unit in Baddi, Himachal Pradesh six months ago. The first-time approval from SFDA for pre-filled Enoxaparin syringes and general injection facilities followed a stringent inspection and extensive audit of the companys facilities.”Venus Remedies has presence in both branded and generic products. The company is mainly present in critical care segment manufacturing parenterals like cephalosporins, carbapenems and oncology drugs in lyophilized form, infusions and small volume parenterals used for treating varied ailments like bacterial infections and cancer.The companys consolidated net profit tumbled 82.9% to Rs 1.18 crore on 33.5% decline in net sales to Rs 95.15 crore in Q1 FY24 over Q1 FY23.