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Pharma stock jumps 10% after renewal of good manufacturing practices certification in Portugal

Leading pharmaceutical company successfully renewed its European Good Manufacturing Practices (GMP) certification, covering Cephalosporins, Carbapenems, and oncology formulations, reinforcing its commitment to high standards and strong European market presence.
Pharma stock surges 10% after renewing Good Manufacturing Practices certification in Portugal.
Pharma stock surges 10% after renewing Good Manufacturing Practices certification in Portugal.

Introduction:

Leading pharmaceutical company announced the successful renewal of its European Good Manufacturing Practices (GMP) certification. The certification covers Cephalosporins, Carbapenems, and oncology formulations, reinforcing the company’s commitment to high manufacturing standards and European market presence.

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Share price movement of Venus Remedies:

On January 21, 2025, Venus Remedies Ltd opened at ₹311.05, up 5.35% from its previous close of ₹295.30. The stock reached a high of ₹330.90 (12.04%) and a low of ₹305.65. By 1:09 PM, it traded at ₹309.00, a 4.64% increase, with a market cap of ₹413.91 crore.

Venus Remedies Limited Renews EU GMP Certification:

Venus Remedies Limited announced the successful renewal of its European Good Manufacturing Practices (GMP) certification. This certification, granted by Portugal’s National Authority of Medicines, covers Cephalosporins, Carbapenems, and oncology formulations.

The renewal highlights Venus Remedies’ dedication to maintaining high standards for pharmaceutical manufacturing. The company has held the GMP certification since 2007, securing a robust position in the European market, particularly as a leading exporter of Meropenem outside India.

Venus Remedies continues to strengthen its reputation in the European healthcare sector. With several marketing authorizations across Europe, the company remains committed to providing reliable, high-quality antibiotics and oncology products.

Recent news on Venus Remedies:

As of December 24, 2024, Venus Remedies successfully implemented the National Skill Development Corporation (NSDC) certification initiative. A total of 128 employees from 30 departments participated, undergoing extensive training and mentorship to enhance skills and competency in alignment with industry standards.

Stock performance of Venus Remedies for Period of 1 week, 6 months and 1 year:

Over the past week, Venus Remedies Ltd. saw a slight increase of 0.24%. However, the stock has faced a decline of 25.5% over the last six months and 24.2% over the past year, indicating overall underperformance.

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Shareholding pattern of Venus Remedies:

All values in %Dec 2024Sep 2024Jun 2024
Promoter41.80%41.80%42%
FII1.10%1.20%1.10%
DII0.00%0.20%0.20%
Public57%57%57.00%
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About Venus Remedies:

Venus Remedies Ltd. (NSE: VENUSREM) is a research-based pharmaceutical company specializing in injectable manufacturing. It has over 1040 global marketing authorizations and offers a wide range of products across anti-infectives, oncology, neurology, and other therapeutic areas.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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