Venus Remedies gains on marketing nod from Venezuela

Written by feBureau | Mumbai | Updated: Apr 4 2014, 19:42pm hrs
Pharma CompanyThe scrip was trading 13.19% higher at Rs 299 on the BSE at 1.00 pm IST.v (Reuters)
Shares of Venus Remedies gained more than 17% in intraday on Friday after the pharma company in an exchange release announced that it has recieved marketing nod from Venezuela for the injectible anti-biotic meropenem.

"Company is planning to launch meropenem in Venezuela in next couple of months. The $-10 billion meropenem market in Venezuela offers a great opportunity to us and we are aiming to capture a sizeable market in the first year of the launch," the company said.

The scrip was trading 13.19% higher at Rs 299 on the BSE at 1.00 pm IST.