Venus Remedies gains on the plans to tap Italian market with meropenem

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

14 Nov 2013 Evaluate

Venus Remedies is currently trading at Rs. 200.40, up by 9.65 points or 5.06 % from its previous closing of Rs. 190.75 on the BSE.

The scrip opened at Rs. 192.20 and has touched a high and low of Rs. 204.90 and Rs. 192.00 respectively. So far 21729 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 358.05 on 15-May-2013 and a 52 week low of Rs. 140.00 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 222.00 and Rs. 189.00 respectively. The current market cap of the company is Rs. 231.87 crore.

The promoters holding in the company stood at 43.99 %, while Institutions and Non-Institutions held 8.58 % and 47.43 % respectively.

Venus Remedies has received marketing authorization from Italy for its generic broad-spectrum antibiotic injectable, ‘meropenem’, via the decentralized procedure (DCP) route. The company is planning to launch this product in Italy next year.

The total meropenem sales in Italy stood at about Euro 50 million in 2012, and Venus Remedies is confident of bagging a 10% share in this market. Being an important member state of the European Union (EU), Italy has immense potential for meropenem. This marketing authorization offers a huge opportunity to Venus Remedies to expand its export base across the globe.

Meropenem is an off-patented antibacterial agent of the carbapenem class of antibiotics, which caters to diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children.

Venus Remedies is generating handsome revenue from the exports of meropenem to EU markets. Last year, the company generated a business of around Euro 5 million from meropenem exports. This figure is expected to double by the end of this year. Venus Remedies, along with its business partners, is offering the best-quality meropenem to 35 countries. It is aiming to penetrate the meropenem markets of another 15 countries by the first quarter of 2014.

The company has already received marketing authorization for meropenem from the UK (MHRA), France, Austria, Denmark, Finland, Ireland, Germany, Netherlands, Poland, Slovenia, Slovakia, Sweden, Portugal, Czech Republic, Cyprus, New Zealand and Mexico. Its product has also made its way to the Balkan countries with marketing approvals from Bosnia & Herzegovina and Croatia.

Venus Remedies Share Price

1853.45 87.90 (4.98%)

24-Jun-2026 16:59 View Price Chart

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