INDIA – Dr Reddy’s Laboratories Ltd. has announced the launch of Reddy-Lenalidomide, a generic equivalent to Revlimid (lenalidomide) capsules, in Canadian market following an approval from the Health Canada.
Reddy-Lenalidomide, a cancer drug, is one of the first generic medications of its kind to launch in Canada, a press release from the city-based drug maker said.
Dr Reddy’s launch in Canada comes at a time when the cancer treatment market is estimated at approximately US$158 billion in 2020, and is expected to witness a revenue of US$268 billion in 2026, with a CAGR of 9.15% over the forecast period.
The COVID-19 pandemic has affected the healthcare systems globally and also has a significant impact on the cancer therapy market.
As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the six most common cancer types – breast, colorectal, lung, pancreatic, gastric, and esophageal cancers.
According to the Globocan 2020 fact sheet, an estimated 19,292,789 new cancer cases were diagnosed worldwide, with nearly 9,958,133 deaths due to cancers, globally.
Additionally, according to estimates from the International Agency for Research on Cancer (IARC), by 2040, the global burden of cancers is expected to grow to 27.5 million new cancer cases and 16.3 million deaths worldwide.
The increasing incidence of cancer cases is expected to drive the need for advanced cancer therapies for the effective treatment of patients. Thus, given the aforementioned factors, the cancer therapy market is expected to witness tremendous growth over the forecast period.
“Our launch of Reddy-Lenalidomide represents our firm commitment to providing access to affordable medicines for Canada’s Multiple Myeloma and Myelodysplastic Syndrome (MDS) patient population,” Vinod Ramachandran, Vice President and General Manager, Dr. Reddy’s Laboratories Canada said.
Meanwhile, pharmaceutical major Cipla has partnered with Clensta International, an IIT Delhi supported healthcare startup for marketing and distributing their products based on waterless technology.
Cipla will run an intensive marketing drive to educate the right buyers such as hospitals, pharmacies, defense forces and various institutions, the company said in a statement.
The company which operates in the personal care and home care space with a focus on science & sustainability has developed products like waterless body bath, waterless shampoo and CoV-Guard Protection Lotion with Prolonged Antiviral Protection Technology (PAR).
“Personal hygiene is a necessity and everyone must have it, we feel obliged that we are contributing our bit through our waterless products, ” Puneet Gupta, Founder, and CEO, Clensta International said.
“This strategic partnership with Cipla is an important step in our journey to redefine bathing without exhausting water. We see significant synergies between the two companies especially on brand relationships and consumer experience, ” he added.
Founded in 2016, it has more than 28 products in its portfolio. Clensta aims to develop environmentally compassionate products that benefit all.