Venus Remedies Q4 2010 net sales up by 27.40% to Rs 80.78 crore Net Profit grows by 31.06 % |
Venus Remedies Ltd., the research and development driven pharmaceutical company announced its unaudited results for the fourth quarter ended 31 March 2010. The Company reported a rise of 31.06% in its net profit to Rs. 12.75 crore compared to 9.73 crore posted in the same period of last year.
Operating profit stood at Rs. 18.94 crore, an increase of 26.55% compared to Rs. 14.97 crore in the corresponding period last year. The Company reported net sales of Rs. 80.78 crore, compared to Rs. 63.41crore in corresponding period of last financial year, a growth of 27.40%. The Earnings per Share (EPS) of the company rose from Rs. 11.51 to Rs. 15.05.
During this quarter, the company launched India's First Infusion FDC antibiotic 'MEBATIC' to fight GI infections. The Company also got GMP certification from Ethiopia. With dedicated efforts of research team of Venus Remedies, company received one more patent from the Indian patent office for its product Sulbactomax. In the fourth quarter company became second generic player in the European market by receiving marketing authorization of Carbapenem injection, 'Meropenem' in Portugal.
In the fourth quarter, the company has submitted 24 product dossiers for registration in 15 countries across the globe. It has got 18 product registrations and with this the total number of registration has crossed 250 mark and the company products are present in 22 countries of LA, South East Asia, Africa and Middle East.
About Venus Remedies Ltd.:
Venus Remedies Ltd is a research and development driven, pharmaceutical manufacturing company. Among the top 50 Indian Pharma companies of India, the company has out paced most Indian pharmaceutical companies in its growth and value creation over the past few years.
Driven by a top class team of mangers and motivators this organization is counted as one of the most professional companies of India and a preferred place for top innovators and mangers to join the bandwagon of the globally significant Indian Pharma industry.
The company has two manufacturing locations in India and one in Germany. Venus is top class manufacturer of Oncological and Cephalosporin Injectable products following EU-GMP norms for all is activities.
Venus has a broad range of products catering to critical care segment in parenterals like cephalosporins, carbapenems and oncology drugs in lyophilized form, infusions and small volume parenterals .
Venus Remedies has targeted to achieve a turnover of Rs 500 crore and is aiming to be amongst the top 25 pharmaceutical Companies in India by 2012.
|
|
