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Venus Remedies has received the UK health regulator’s approval to market ‘Gemcitabine’, used in treating cancer in the UK market.
The Chandigarh-based drug firm has got the approval from the Medicine and Healthcare Regulatory Agency (MHRA), UK, to market Gemcitabine in two strengths of 200 mg and 1,000 mg, Venus Remedies said in a statement.
“Venus is all set to capture a substantial market share by entering the highly lucrative market of Europe as it stands among the first few to receive the market authorisation for Gemcitabine,” the company CMD, Mr Pawan Chaudhary, said.
The company will produce Gemcitabine from its Baddi facility in India and plans to launch the product in the UK and Germany along with other EU countries by the second quarter of 2011.
Gemcitabine, used in the treatment of diseases including cancer of lungs, pancreas, bladder and breast, is a $1.5-billion drug worldwide with more than 30 per cent market share from Europe, the company said.
The company shares were trading at Rs 227 on Bombay Stock Exchange in the late afternoon trade today, up 5.07 per cent from its previous close.
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