Venus Remedies gained nearly 5% to trade near its 52-week high price of ₹429.6 per share on BSE on Friday after the company announced receiving marketing authorisation for two new drugs in Europe.
The two marketing authorisations have been obtained for Docetaxel in concentrations of 160mg/8mL, 20mg/1mL, and 80mg/4mL of a single vial dose. The pharma company also received approval for a 1g concentration of Gemcitabine from Malta.
These two new drugs are used in chemotherapy treatments for various cancers.
In a filing to the stock exchanges, Venus Remedies said that the marketing authorisations for two new drugs signify the company’s commitment to expanding its pharmaceutical portfolio as well as market presence.
After the announcement, shares of the company soared 4.85% to an intraday high of ₹429.5 per share on BSE. Shares of Venus Remedies have gained 84% over the past three months and have given a healthy return of 136% in the last one year.
“We look forward to leveraging these authorizations to enhance our global reach and contribute to the advancement of healthcare solutions,” the pharmaceutical company said.
Last month, Venus Remedies secured authorisation to market cancer drugs in Israel and Colombia. The authorisations were received for three variants of Docetaxel in Israel and Cytarabine 100mg in Colombia, the company stated in a filing to the stock exchanges.
Docetaxel is a chemotherapy drug used in the treatment of different types of cancer, including breast, stomach, prostate, and lung cancers. On the other hand, Cytarabine is used in the treatment of blood cancers like leukemia and lymphoma.
Shares of Venus Remedies were quoting at ₹411 apiece, up 0.28%, on NSE at 3.02 PM.
The two marketing authorisations have been obtained for Docetaxel in concentrations of 160mg/8mL, 20mg/1mL, and 80mg/4mL of a single vial dose. The pharma company also received approval for a 1g concentration of Gemcitabine from Malta.
These two new drugs are used in chemotherapy treatments for various cancers.
In a filing to the stock exchanges, Venus Remedies said that the marketing authorisations for two new drugs signify the company’s commitment to expanding its pharmaceutical portfolio as well as market presence.
After the announcement, shares of the company soared 4.85% to an intraday high of ₹429.5 per share on BSE. Shares of Venus Remedies have gained 84% over the past three months and have given a healthy return of 136% in the last one year.
“We look forward to leveraging these authorizations to enhance our global reach and contribute to the advancement of healthcare solutions,” the pharmaceutical company said.
Last month, Venus Remedies secured authorisation to market cancer drugs in Israel and Colombia. The authorisations were received for three variants of Docetaxel in Israel and Cytarabine 100mg in Colombia, the company stated in a filing to the stock exchanges.
Docetaxel is a chemotherapy drug used in the treatment of different types of cancer, including breast, stomach, prostate, and lung cancers. On the other hand, Cytarabine is used in the treatment of blood cancers like leukemia and lymphoma.
Shares of Venus Remedies were quoting at ₹411 apiece, up 0.28%, on NSE at 3.02 PM.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
