Shares of one of the leading fixed dosage injectable manufacturers around the world gained 7 percent in the day’s trade after it received authorization for its medicine from the medicines and healthcare regulatory body of the United Kingdom.
At 10:36 a.m the shares of Venus remedies were trading at Rs. 241.75 up 2.27 percent from its previous day close price and its market capitalization is Rs. 323 Crores.
As per the company’s filing, Venus Remedies has announced that it has received authorisation from medicines and healthcare products regulatory agency(MHRA) in the United Kingdom, for its Bleomycin 15,000 Iu Powder a Solution for Injection/infusion by its German Subsidiary,Venus Pharm GmbH, this achievement is said to expand its global operations.
It is a potent medication that contains the active ingredient bleomycin sulfate, it belongs to a group of medicines known as cytostatic drugs specially designed to combat cancer.
Currently Venus Remedies holds a total of 15 market authorizations for Bleomycin products around the globe and to make its products more accessible it has submitted sixteen additional applications to the ministries of health around the world.
The company’s revenue declined 7.44 percent from Rs. 600.18 Crores in FY22 to Rs. 555.51 Crores in FY23, accompanied by decreasing profits of Rs. 40.72 Crores to Rs. 26.57 Crores.
It has reported a Return on equity (ROE) of 5.9 percent and a return on capital employed(ROCE) of 7.75 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the Sep 2023 quarter, the company’s Promoters hold 41.76 percent stake, the Domestic Institutional Investors hold 0.00 percent and the Foreign Institutional Investors (FII) hold 1.03 percent.
Venus remedies is an indian pharmaceutical company with presence in domestic and international markets, it is among the top 10 leading fixed dosage injectable manufacturers around the world. It is primarily engaged in the business of manufacturing pharmaceutical products.
Written by: Bharath K.S
