Venus Remedies up 5% on GMP certification

MUMBAI: Heavy buying in Venus Remedies shares continued for the second straight day Wednesday on receiving the European GMP certification for its Cephalosporin and Carbapenem plants at Baddi, Himachal Pradesh. The share which appreciated nearly 17 per cent Tuesday, climbed 5.09 per cent to Rs 594 today. The counter clocked a volume of 9,732 against two-week average of 13,972 shares.

The European-GMP certification is a pre-requisite for exports to the European Union. With this accreditation, the company can now export to not only 36 countries of the European Union, but also to Canada and Australia, which recognise European GMP. Venus is the only company in India to have an EU-GMP certified plant for Carbapenems, which have a huge market potential across the world.