On June 7, Venus Remedies’s share plunged 2% intraday after the firm got Good Manufacturing Practices (GMP) certification from Ukraine for Meropenem 500 mg, Meropenem 1,000 mg, Meropenem 2,000 mg, Paclitaxil 6mg/ml, Oxaliplatin 5mg/ml, Cisplatin 1mg/ml, Imipenem/Cilastatin 500mg/500mg manufactured at its Carbapenem & Oncology production services in Baddi unit, Himachal Pradesh.

Decided by the State Service of Ukraine on Medicine and Dug Control (SMDC) after a strict and elaborate audit, it is expected to cover the way for GMP certifications from the European Medicines Agency and many medicines supervisory authorities of the European Union (EU), which follow the Pharmaceutical Inspection Convention/Cooperation Scheme (PIC/S).

This international GMP consent, the 27th for Venus Remedies, will allow the firm to increase its product portfolio internationally with more marketing authorisations besides Ukraine, the largest pharmaceutical market in the Common Wealth of Independent States (CIS) worth $5 billion.

At 10:54 am, Venus Remedies cited Rs 231.60, up Rs 2.80, or 1.22% on the BSE.

The share touched a 52-week high of Rs 263.55 and a 52-week low of Rs 145 on May 31 2023, and February 08 2023, respectively.

It trades at 12.12% below its 52-week high and 59.72% above its 52-week low.