Venus Remedies Reports Stellar Q1 Performance with 8-Fold Surge in Net Profit 4 days ago
Venus Remedies Limited announced impressive Q1 results, with consolidated net profit soaring 687% year-over-year to ₹9.60 crore. Revenue from operations increased by 21.4% to ₹131.90 crore. EBITDA grew 46.3% to ₹18.80 crore. The company's EPS rose to ₹7.18 from ₹0.92. Venus Pharma GmbH, a wholly-owned subsidiary, faced challenges with eroded net worth, but management expects improvement. Venus Remedies operates solely in the 'Pharmaceuticals' segment.
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Venus Remedies Secures Exclusive Rights for MET-X: A Potential Game-Changer in Fighting Antibiotic Resistance
Venus Remedies Limited has entered an exclusive license agreement with UK-based Infex Therapeutics to develop MET-X, an innovative metallo-beta-lactamase inhibitor, in India. MET-X, designed to combat drug-resistant Gram-negative bacteria, will be initially combined with meropenem. The company plans to conduct Phase I trials in India, followed by Phase II/III trials for complicated urinary tract infections. This agreement addresses a critical need in India, where meropenem resistance is high and no approved MBL inhibitors exist. The development will adhere to international standards, potentially supporting global commercialization efforts.