Venus Remedies trades higher on the BSE
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Venus Remedies is currently trading at Rs. 201.00, up by 3.30 points or 1.67% from its previous closing of Rs. 197.70 on the BSE.
The scrip opened at Rs. 197.65 and has touched a high and low of Rs. 205.65 and Rs. 197.05 respectively. So far 2822 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 264.00 on 18-May-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. 212.00 and Rs. 195.75 respectively. The current market cap of the company is Rs. 267.34 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 renewal of recognition for its in-house R&D excellence by the Department of Scientific and Industrial Research (DSIR), Ministry of Science & Technology, Government of India. This renewal underscores Venus Remedies' commitment to innovation, excellence in research, and its significant contributions to healthcare. With 15 patented products brought to market and several others in the pipeline, company's R&D portfolio demonstrates a progressive approach to drug development. The company has consistently invested in research and development. The company invested 3.53% of its total sales in R&D, from which it has generated 5.25% of its total revenue, which stood at Rs 575.18 crore in FY 2021-22. The R&D spend for the same period amounted to Rs 20.31 crore.
This renewal of recognition from DSIR reinforces company’s position as a research-driven pharmaceutical company dedicated to bringing innovative and effective solutions to address global healthcare needs.
The company has emerged as a pioneer in developing innovative medical solutions to combat antibiotic resistance, a global health concern. As part of its commitment to addressing antimicrobial resistance, VRL has created a range of patented superbug-fighting solutions, including Elores. In recognition of its efforts to combat antimicrobial resistance, Venus Remedies has become a member of the AMR Industry Alliance (AMRIA), joining over 100 globally renowned organizations in a coordinated response to this critical issue.
Venus Remedies is one of the handful player in pharmaceutical sector to launch world global injectable manufacturers.
