This pharma stock jumped more than 7.5% after announcing its market authorization of its drug in the UK

On October 26, 2023, Venus Remedies announced a significant achievement – the granting of market authorization in the United Kingdom for Bleomycin 15,000 IU Powder for Solution for Injection/Infusion by its German subsidiary, Venus Pharma GmbH. This remarkable milestone not only expands the pharmaceutical giant’s global presence but also underscores its commitment to advancing cancer care with innovative solutions.

Bleomycin 15,000 IU

This potent medication contains the active ingredient bleomycin sulfate and belongs to a group of medicines known as cytostatic drugs, specifically designed to combat cancer. This class of medications, often referred to as chemotherapy, is renowned for its effectiveness in targeting cancer cells and preventing their uncontrolled division.

Its versatile applications include the treatment of certain types of squamous cell carcinomas in the head and neck, cervix, and external genitalia. It also serves as a panacea in treating severe types of lymph node cancers, such as Hodgkin’s disease and non-Hodgkin’s lymphoma of intermediate and high malignancy, testicular cancer, and fluid accumulation in the lungs, often associated with cancer. Bleomycin can be administered as a standalone treatment or in combination with other cancer medications and radiotherapy. Its effectiveness and utility in cancer treatment have earned it market authorizations in numerous countries worldwide.

Venus Remedies is proud to hold a total of 15 Market Authorizations (MA) for Bleomycin products across the globe. As part of its efforts to make Bleomycin more accessible, the company has submitted sixteen additional applications to Ministries of Health (MOHs) around the world. Venus has secured 15 registrations for this drug across various regions, including Africa, Asia, the Middle East, the Commonwealth of Independent States (CIS), North America, and South America.

Saransh Chaudhary, CEO of Venus Medicines Research Centre, stated, “At Venus, our mission is to improve the lives of cancer patients by providing cutting-edge treatments. The UK market authorization for Bleomycin 15,000 IU Powder for Solution for Injection/Infusion is a significant step towards realizing this mission. We remain dedicated to enhancing healthcare solutions and are committed to pursuing additional authorizations to reach even more patients in need.”

For Venus Pharma GmbH, obtaining market authorization from a regulatory agency like the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom is a significant validation of the company’s commitment to pharmaceutical excellence. This achievement enhances the company’s reputation, not only in the UK but also on the international stage, signifying its competence in delivering pharmaceutical products that can positively impact patient lives.

Ashutosh Jain, CEO of Venus Pharma GmbH, expressed that obtaining market authorization from MHRA is a momentous accomplishment for Venus Pharma GmbH. It enables the company to play a pivotal role in advancing cancer care and improving the quality of life for patients facing this challenging disease.

About Venus Remedies:

• Panchkula-based Venus Remedies Ltd is among the top ten fixed-dosage injectable manufacturers in the world. With a commercial presence in 70+ countries and a portfolio of 75 products spread over Europe, Australia, Africa, Asia-Pacific, Commonwealth States, the Middle East, Latin America, and the Caribbean region, the company has nine globally benchmarked facilities in Panchkula, Baddi, and Werne (Germany), along with 11 overseas marketing offices. Its manufacturing units are ISO certified.
• The company has also been approved by European-GMP, WHO-GMP, and Latin American GMP (INVIMA), among others. Ranked 107th in Asia and among the world’s 500 largest pharmaceutical manufacturing companies, Venus Remedies has been granted more than 130 patents worldwide and has more than 125 registered trademarks and 25 copyrights for its innovative research products.
• By FY26, the company is targeting to reach a Market cap of Rs 1000 crores with a presence in 100+ countries and a focus on Antimicrobial Resistance therapies. In FY24, the company plans to initiate clinical trials for a drug named VRP-034.
• Venus Remedies has shown impressive financial performance in the last three years, with a compounded annual growth rate (CAGR) of 18% in sales, 119% in profit, and 9% in return on equity (ROE). These are very strong numbers, and they demonstrate the company’s ability to grow its business and generate profits at a rapid pace.

Stock Price Return

The stock is currently trading 2.21% higher on the BSE, as of October 26, 2023, with the trading session yet to conclude. The stock opened at Rs 236.55 and made a high of Rs 255 after issuing a press release, reflecting a 7.79% surge in share price.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.