Shares of Venus Remedies Ltd rose 1% to hit a day’s high of Rs 361.95 on 22nd May after the company said it had renewed its GMP (Good Manufacturing Practices) certification from Ukraine’s regulatory body for its Unit-II facility in Baddi.
The certification was granted by Ukraine’s State Service on Medicines and Drugs Control (SMDC), helping strengthen Venus Remedies’ global presence.
Ukraine is a member of the Pharmaceutical Inspection Cooperation Scheme (PlC/S), which includes 56 countries. This enhances the international credibility of Venus Remedies’ manufacturing practices.
The pharmaceutical market in Ukraine is projected to grow at a CAGR of 3.9% and reach $822.26 million by 2029, driven by demand for generics and oncology drugs.
Venus said its certified Baddi Unit-II plant has advanced infrastructure to meet complex therapeutic demands and align with global healthcare needs.
Company officials noted that the GMP renewal boosts their presence in Ukraine and helps expand further into other PlC/S member markets.
At 1:45 PM, the shares of Venus Remedies were trading 0.70% higher at Rs 352.35 on NSE.
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