Venus Remedies Share Price: Pharma company and injectable manufacturer Venus Remedies has received Good Manufacturing Practice (GMP) certification from the Government of Moldova. After achieving this certification, the company has expanded its reach in Eastern Europe. Due to this the company’s shares have increased by more than 3%. The company’s shares were seen rising by 2.56 percent or Rs 7.95 and trading at Rs 318 in the last minutes before the market closed. Today its day high was Rs 328.05 while its day low level was Rs 306.40.
“With this certification, we are now well-positioned to expand our business in the Eastern European market,” Venus Remedies said in a company statement. The approval received from the Moldovan Health Ministry is for Venus’s antibiotic-carbapenem facility. Venus Remedies said the approval for the facility will ensure “access to high quality, effective and reliable antibiotics” across the region. Carbapenems are broad-spectrum antibiotics used to treat serious cases of infection.
Earlier in December, Venus Remedies had also managed to secure marketing authorization in the Philippines.
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Venus Remedies shares have fallen 21% so far this year. The market capitalization of the company is around Rs 428 crore.
The Central Government wants to strengthen India’s brand as ‘Pharmacy of the World’. For this, the government has set an ambitious target of increasing the size of India’s pharma sector from the current $43 billion to $120 billion by 2030, focusing on manufacturing and exports.
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