India's Venus Remedies jumps 5% on getting UK marketing authorisation for cancer drug

Venus Remedies

25/04/2023 07:40

** Shares of Venus Remedies Ltd  VENR.NS  rise as much as 5% to
208 rupees
    ** Uptick after the research and pharmaceutical company's
unit secures marketing authorisation from the UK drug regulator
for a chemotherapy drug to treat various types of cancer,
Cisplatin
    ** Co's unit Venus Pharma GmbH, an affordable cancer drugs
provider, gets the authorisation from UK
    ** Cisplatin used as a first-line treatment for advanced
ovarian cancer, testicular cancer and bladder carcinoma
    ** Global market size of Cisplatin was valued at $394.5 mln
in 2021 and is expected to grow to $661.16 mln by 2027; UK to
account for 5% market share of the drug
    ** VENR says the authorisation to advance the reach of its
entire oncology product portfolio in the UK
    ** Trading volume is 72,339 shares as of 12:03 p.m. IST,
nearly the same as the 30-day avg of 74,110 shares - Refinitiv
data




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))