Credit rating agency, ICRA has reaffirmed ‘BBB-’ rating to Rs 234.56 crore bank facilities of Venus Remedies with stable outlook. The rating agency has also reaffirmed ‘A3’ as the short term rating for Rs 27.00 crore bank facilities of the company. The total rated limits are Rs 261.56 crore.
The reaffirmation of the ratings for the enhanced limits takes into account the company’s established position in the high margin critical care segment, significant focus on research and development (R&D) and basket of marketing authorizations for various markets and a healthy product pipeline.
Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
