Venus Remedies registers research product in Ukraine

Venus Remedies Ltd has announced that the Company has got its Research Product, a FDC of Cephalosporin with a Beta-Lactamase, registered in Ukraine after getting all necessary regulatory approvals.

The Fixed Dose Combination, developed in-house by the Company's Research Wing, was launched in Indian market in FY 05, after clearing Phase - III Clinical Trials and DCGI approval for the same and has become an INR 900 million product since then. Now, the Company has got its first success overseas with getting the Market Authorization for Ukraine for this innovative formulation, after completing all the stipulated formalities of the MoH, Trade Administration on Medicines & Medicinal Devices.

The first order for bulk supplies of this formulation, for which the Company has already filed a Patent in Ukraine, has been received by the Company. This registration will not only bring in good volume of sales of this specialty injectible from Ukrainian market, but also further boost the Company's market penetration in CIS countries. The Baddi Unit of the Company is already having the Ukrainian GMP accreditation, further facilitating the exports to Ukraine.

The stock was trading at Rs.505, down by Rs.1.85 or 0.36%. The stock hit an intraday high of Rs.516 and low of Rs.502. The total traded quantity was 1816 compared to 2 week average of 20888.

Source : Equity Bulls

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