Credit: Venus Remedies
Venus Remedies Ltd, a leading Indian oncology drug manufacturer, has obtained a marketing authorization (AMM) for an anticancer drug in Morocco: carboplatin, bringing the company’s oncology portfolio to 508 authorizations in 76 countries.
In Morocco, where the cancer drugs market is expected to reach $150.8 million by 2029, the approval of Carboplatin will strengthen Venus Remedies’ position in the African oncology market, welcomes the Indian laboratory.
Venus Remedies now holds 15 Marketing Authorizations in Morocco. A development that contributes to the growth of India’s pharmaceutical exports, which reached 27.9 billion dollars (MM$) during the financial year 2023-24. The global oncology market is expected to witness significant growth, reaching $518.25 billion by 2032.
In a circular (No. 6477/211) published on July 6, 2023, the Administration of Customs and Indirect Taxes (ADII) announced that it had received from the Ministry of Health and Social Protection the updated list of medicines, which could benefit from the Exemption from import VAT. The new list published by the ADII includes anticancer drugs such as carboplatin, a chemotherapy used in the treatment of certain ovarian, bronchial and oral cancers.
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