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Venus Remedies receives Indonesian GMP for its Baddi unit

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

05 Feb 2014 Evaluate

Venus Remedies has got good manufacturing practices (GMP) certification from Indonesia for its unit located in Baddi, Himachal Pradesh. The Indonesian National Agency for Drug and Food Control (NADFC) granted the certification after an extensive review and audit of the facility. With this, the number of international GMP certifications for Venus Remedies has gone up to 22.

The NADFC is among the drug regulatory authorities of 44 countries which are part of the Pharmaceutical Inspection Convention/Co-operation Scheme (PIC/S). Venus Remedies has already got GMP certification from three other PIC/S members, including Ukraine, TGA-Australia, Indonesia and EU-GMP.

Indonesia represents one of the most attractive and flourishing markets for pharmaceutical companies looking to expand across the Asia-Pacific region. With a sizable population of 234 million, which is witnessing a rapidly expanding middle class, Indonesia is poised to emerge as a key market of growth for the health care & Pharmaceutical industry. Currently worth $4.5 billion, the Indonesia's pharmaceutical market is expanding at an annual rate of 12.5 percent. Pharmaceutical sales in Indonesia are expected to register a significant growth in 2012-16 at compound annual growth rate (CAGR) of 11.5% in terms of the local currency.

A potentially lucrative market for the company’s oncology product line, Indonesia records 170-120 new cancer cases annually in a population of every 1 lakh. Currently, the Indonesian Cancer market worth $88.58 Million (approximately) in 2013 and is expected to grow at 10%. Venus will commercially launch its products in Indonesia by the middle of this year and is projected to generate revenue of $1 million in the first year itself. With the launch of its oncology products in Indonesia, the company aims at capturing the maximum shares in the country‘s pharmaceutical market.

Venus Remedies Share Price

1042.35 3.25 (0.31%)

17-Apr-2026 16:59 View Price Chart

Peers

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Sun Pharma Inds.	1675.20
Dr. Reddys Lab	1235.40
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Zydus Lifesciences	942.55
Lupin	2324.25
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Venus Remedies receives Indonesian GMP for its Baddi unit

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