Venus Remedies trades in red despite getting approval for market authorization

Venus Remedies Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 526953 | NSE: VENUSREM

15 Nov 2011 Evaluate

Venus Remedies is currently trading at Rs 185.00, down by 1.60 points or 0.86% from its previous closing of Rs 186.60 on the BSE.

The scrip opened at Rs 188.85 and has touched a high and low of Rs 189.75 and Rs. 183.10 respectively. So far 2769 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 300.00 on 16-Nov-2010 and a 52 week low of Rs 176.20 on 20-Jun-2011.

Last one week high and low of the scrip stood at Rs 210.00 and Rs 183.10 respectively. The current market cap of the company is Rs 170.59 crore.

The promoters holding in the company stood at 30.42% while Institutions and Non-Institutions held 16.35% and 53.23% respectively.

Mid-sized drug maker, Venus Remedies has received approval for market authorization from MHRA (UK) via DCP route ( which covers Ireland, Poland, Slovenia, Netherlands, Finland, Austria, Slovakia, Denmark, Germany, Sweden, France and Italy also) for its generic board spectrum injectable antibiotic carbapenem. The company is all set to launch this drug soon within this fiscal year. Besides, this Venus has also got market authorization for the same product from New Zealand’s Ministry of Health.

Market authorization grants from both territories have opened doors for Venus to enter into the highly lucrative penems market of $250 million in Europe and $20 million in New Zealand. Meropenem market authorization grants once again proved company’s R&D capabilities and its expertise in developing world class products with regulatory might.

Meropenem is a broad spectrum anti-bacterial agent of carbapenem family indicated as empirical therapy prior to the identification of causative organism, or for disease caused by single or multiple susceptible bacteria in both adults and children with a broad range of serious infections. At present, Meropenem sales accounts for $906 million across the globe, which is estimated to grow to $1,006 million by 2012.

Venus Remedies Share Price

975.65 -30.95 (-3.07%)

11-May-2026 16:59 View Price Chart

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