Venus Remedies rises on securing marketing authorization from UK MHRA for Cisplatin!

Shares of the company gained more than 19% in the last one month.     

First-line treatment for advanced ovarian cancer 

Venus Remedies has secured marketing authorization from the UK MHRA for Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer and bladder carcinoma. This marketing authorisation granted to Venus Pharma GmbH, the German subsidiary of Venus Remedies, by one of the world's most stringent healthcare regulatory agencies will enable the company to offer its affordable range of cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries.

The registration for Cisplatin will also expedite the process of registering the oncology products of Venus Remedies in many other countries around the world which consider the UK as a reference country for fast-tracking registration and open opportunities for supplying unregistered products to several markets globally.

The global market size of Cisplatin was valued at $394.5 million in 2021 and is expected to grow to USD 661.16 million by 2027 at a CAGR of 8.99%. The UK holds at least 5% of the global market share for this drug.

Share price movement of Venus Remedies Limited     

Today, the stock opened at Rs 198, with a high and low of Rs 203.15 and Rs 196.75. The stock closed trading at Rs 197, up by 0.93%.

The company's shares have a 52-week high of Rs 298.60 and a 52-week low of Rs 145, with a market capitalization of Rs 263.33 crore.

Company profile

Venus Remedies Ltd is an Indian Pharmaceutical company with a presence in domestic and international markets. It is primarily engaged in the business of pharmaceutical product manufacturing.