Pharma major Venus Remedies Ltd today announced the launch of its super speciality Oncology segment 'Passion Oncobiz', entailing an investment of $2 million.
"...With the launch of Passion Oncobiz, Venus will further reinforce its industry position and expects a 10 per cent growth in the market share by 2015," said Venus Remedies CMD Pawan Chaudhary in statement.
The anti-cancer drug segment constitutes 30 per cent of the total sales of the company with more than 100 market authorisations from 25 countries, including the UK, Germany, Poland, Portugal.
Venus will be investing $2 million for the promotion of this sub business unit.Currently, the domestic market is growing at an annual rate of around 30% and the current sales of anti- cancer products is estimated at $150-200 million a year.
Chaudhary said, "The therapies which will be used in the treatment of cancer will include a product basket of 21 products covering all type of cancer like lung cancer, breast cancer, cervical cancer, brain tumour, oral cancer".
The pharma company is eyeing a total sales of Rs 425 crore by March 2012 after ending current the fiscal at Rs 360 crore. It recorded sales figure of Rs 312 crore in last fiscal.
The drug maker has three facilities at Panchkula (Haryana), Baddi (HP) and Germany. It has presence in 60 regulated and semi-regulated countries.