The shares of this pharma company gained up to 4 percent after the company announced that it has received Marketing Authorizations for Paclitaxel.
With a market capitalization of Rs 514.36 Crores. Venus Remedies Ltd, On Friday, The shares were trading at Rs 390.10 a share, an increase of 0.81 percent from the previous closing price.
According to the exchange filing, Venus Remedies Ltd announced that it has received Marketing Authorizations for Paclitaxel 100mg/16.7ml and Zolendronic Acid 4mg in the Philippines, located in the dynamic region of Asia (South East), ln addition, the company has also secured marketing Authorization for Bleomycin 15lU from Saudi Arabia.
Apart from what was previously mentioned, Venus Remedies Ltd has achieved a noteworthy milestone with these regulatory approvals, which is indicative of the company’s dedication to progressing healthcare solutions and broadening its worldwide reach. The organization is committed to providing top-notch medications that enhance patient outcomes and meet urgent medical requirements.
Venus Remedies Ltd possesses more than 90 products, 800 market authorizations, 100 worldwide patents, and three manufacturing facilities. Venus Medicine Research Centre (VMRC), a company with GLP accreditation, is dedicated to providing cutting-edge innovations to the global critical care and superspecialty markets.
Looking into the company’s performance, Venus Remedies Ltd’s revenue increased by 20 percent from Rs 139 Crore in Q2FY23 to Rs 167 Crore in Q2FY24. During the same period, net profit increased by 86.49 Rs 5.33 crore to Rs 5.94 Crore.
The objectives of Venus Remedies Ltd are to develop novel treatments that address antibiotic resistance, reach a revenue of Rs 1,000 by 2025–2026, become financially independent, and continue to be debt-free.
An Indian pharmaceutical business with a presence in both domestic and foreign markets is Venus Remedies Ltd. Its primary business is the manufacturing of pharmaceutical products.
Written by:- Abhishek Singh
