Venus trades jubilantly as its arm ties up with Mylan

BSE Code - 526953
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 37.73%
                                   (b)Institutions - 8.69%
                                   (c)Non-Institutions - 53.58%
One year High-Low - Rs 350.00 - Rs 180.00   
     Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
     Venus Remedies’ wholly owned subsidiary has entered into a distribution-cum-out-licensing agreement with Mylan for marketing its generic broad-spectrum antibiotic, meropenem, in three European countries. This deal with Mylan, the world’s third largest generic drug manufacturer, will enable Venus Remedies to market meropenem in Denmark, Sweden and Finland for a period of five years.
     Under this non-exclusive marketing agreement, Venus will manufacture the drug at its Baddi facility, which recently got a renewed European Union Good Manufacturing Practices (GMP) certification, while the batch release and logistics will be handled by its Germany facility Venus Pharma GmbH. The addition of territories on the basis of strategic tie-ups with its existing partners has re-established the faith of its customers in Venus’s quality standards and timely deliveries. This joint venture will further help Venus Pharma GmbH and its collaborators in maintaining their market position to figure among the top five players with around 30% share in meropenem markets in countries like Germany, France and UK.
     Venus already has a non-exclusive marketing tie-up with Mylan for the same product in France, where the drug has been successfully launched and is contributing to the company's top and bottom lines.
     Venus Remedies has secured more than 60 marketing authorisations for meropenem throughout the world from countries like the UK, France, Austria, Italy, Denmark, Finland, Ireland, Germany, Netherlands, Poland, Slovenia, Slovakia, Sweden, Portugal, Czech Republic, Cyprus, New Zealand and Mexico, among others. The company recently got its first Australian marketing authorisation for this product in tie-up with Lupin. Venus is now all set to receive marketing approvals for meropenem from Switzerland and South Africa.
     Stock is currently trading at Rs 312.00, up by 14.55 points from its previous closing of Rs 297.45 on the BSE.