Venus Remedies rises on securing marketing authorization from UK MHRA for Cisplatin
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Venus Remedies is currently trading at Rs. 200.65, up by 1.80 points or 0.91% from its previous closing of Rs. 198.85 on the BSE.
The scrip opened at Rs. 198.00 and has touched a high and low of Rs. 201.10 and Rs. 198.00 respectively. So far 1831 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 298.60 on 29-Apr-2022 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. 211.85 and Rs. 193.80 respectively. The current market cap of the company is Rs. 267.74 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 secured marketing authorization from the UK MHRA for Cisplatin, a chemotherapy drug used as a first-line treatment for advanced ovarian cancer, testicular cancer and bladder carcinoma. This marketing authorisation granted to Venus Pharma GmbH, the German subsidiary of Venus Remedies, by one of the world's most stringent healthcare regulatory agencies will enable the company to offer its affordable range of cancer drugs to the National Health Service (NHS) in the UK and neighbouring countries.
The registration for Cisplatin will also expedite the process of registering the oncology products of Venus Remedies in many other countries around the world which consider the UK as a reference country for fast-tracking registration and open opportunities for supplying unregistered products to several markets globally.
The global market size of Cisplatin was valued at $394.5 million in 2021 and is expected to grow to $661.16 million by 2027 at a CAGR of 8.99%. The UK holds at least 5% of the global market share for this drug.
Venus Remedies is one of the handful player in pharmaceutical sector to launch world global injectable manufacturers. It has world-class manufacturing facilities in Panchkula and Baddi (in India) and Werne (in Germany) and research and development center in Venus Medicine Research Centre (in India).
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