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Venus Remedies moves up on getting GMP certification from Ukraine
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Venus Remedies is currently trading at Rs. 230.05, up by 1.25 points or 0.55% from its previous closing of Rs. 228.80 on the BSE.
The scrip opened at Rs. 231.40 and has touched a high and low of Rs. 233.10 and Rs. 225.75 respectively. So far 7613 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.55 on 31-May-2023 and a 52 week low of Rs. 145.00 on 08-Feb-2023.
Last one week high and low of the scrip stood at Rs. 248.00 and Rs. 224.50 respectively. The current market cap of the company is Rs. 308.38 crore.
The promoters holding in the company stood at 41.76%, while Institutions and Non-Institutions held 1.00% and 57.24% respectively.
Venus Remedies has received Good Manufacturing Practices (GMP) certification from Ukraine for Meropenem 500mg, Meropenein 1000mg, Meropenem 2000mg, Oxaliplatin 5mg/ml, Paclitaxil 6mg/ml, Cisplatin 1mg/ml, Imipenem / Cilastatin 500mg / 500mg of its Carbapenem & Oncology produetion facilities at its unit in Baddi, Himachal Pradesh.
Granted by the State Service of Ukraine on Medicine and Dug Control (SMDC) after a stringent and elaborate audit, this certification is expected to pave the way for GMP certifications for Venus Remedies from European Medicines Agency and many medicines regulatory authorities of European Union (EU) member states and other countries spread across the globe which follow the Pharmaceutical Inspection Convention/Cooperation Scheme (PIC/S).
This international GMP approval, the 27th for Venus Remedies, will also enable the company to expand its product portfolio globally with more marketing authorisatious not only from Ukraine, which happens to be one of the largest pharmaceutical markets in the Common wealth of Independent States (CIS) with a worth of $5 billion, but other global markets as well. Notably, India is the second largest exporter of pharma products to Ukraine after Germany.
Venus Remedies is one of the handful player in pharmaceutical sector to launch world global injectable manufacturers.
