The company exhibited substantial export performance, surpassing the monumental milestone of US $100 million in a span of three years.
Venus Remedies Limited, a trailblazer in the pharmaceutical domain, has recently been honoured with the prestigious “Three Star Export House” certification by the Government of India. This remarkable achievement underscores the company’s unwavering commitment to excellence and its substantial contributions to India’s foreign trade landscape.
To secure the illustrious Three Star status, a company must exhibit substantial export performance, surpassing the monumental milestone of US $100 million in a span of three years. Venus Remedies Limited has not only met but exceeded this benchmark, showcasing an exceptional dedication to India’s foreign trade growth. This noteworthy accomplishment comes on the heels of the company’s Two Star Export House status, which required achieving export performance criteria of US $25 million. Venus Remedies’ rapid expansion and commitment to global commerce are a testament to its relentless pursuit of excellence.
Venus Remedies Limited has, over the years, established itself as a pioneer within the pharmaceutical industry, with a strong focus on pioneering research and development. Beyond its recent accolade, the company boasts an impressive array of certifications and accreditations, including recognition as a CII Responsible Export Organization. Compliant with EU-GMP (Good Manufacturing Practices) and GDP (Good Distribution Practices), these certifications mirror the company’s unswerving commitment to quality, safety, and ethical practices across the globe.
Venus has recently achieved a significant milestone by winning the FICCI Healthcare Award 2023 in the esteemed “Excellence in Patient Safety and Care” category. This award recognizes Venus’s groundbreaking ‘Organ-on-a-Chip’ research model, a first-of-its-kind development in India, showcased at the Venus Medicine Research Centre (VMRC), the organization’s R&D wing.Mr. Peeyush Jain, Deputy Managing Director of Venus Remedies Limited, expressed his profound gratitude upon receiving this prestigious recognition. He affirmed, “Receiving the ‘Three Star Export House’ certificate from the Government of India is a tremendous honor for Venus Remedies Limited. This accolade will further fortify our export capabilities and expand our global presence in key markets, aligning seamlessly with our vision to positively impact human health worldwide.”
The “Three Star Export House” certificate represents a crowning achievement for this pharmaceutical giant. Issued by the Government of India, Ministry of Commerce and Industry, Directorate General of Foreign Trade, this recognition acknowledges Venus Remedies as an “Export Status Holder” and celebrates the company’s pivotal role in advancing India’s exports.
Based in Panchkula, Venus Remedies Ltd has emerged as one of the world’s top ten manufacturers of fixed-dosage injectable medications. The company has established a robust commercial presence in over 70 countries, offering a diverse portfolio of 75 pharmaceutical products. These products are distributed across various regions, including Europe, Australia, Africa, the Asia-Pacific, Commonwealth States, the Middle East, Latin America, and the Caribbean.
Venus Remedies takes pride in its extensive infrastructure, boasting nine state-of-the-art facilities that are globally recognized for their excellence. These facilities are strategically located in Panchkula, Baddi, and Werne (Germany). To support its global operations, the company maintains 11 international marketing offices, ensuring a far-reaching global footprint.
Notably, Venus Remedies upholds the highest standards of quality. Its manufacturing units are ISO certified, and the company has secured approvals from prestigious entities such as European-GMP, WHO-GMP, and Latin American GMP (INVIMA), among others. This recognition underscores Venus Remedies’ unwavering commitment to delivering pharmaceutical products of the utmost quality.
In line with its ambitious growth strategy, Venus Remedies is determined to achieve a market capitalization of Rs 1000 crores by FY26. The company is keen on expanding its presence to more than 100 countries, with a strategic focus on developing therapies to combat Antimicrobial Resistance. Moreover, Venus Remedies is gearing up to commence clinical trials for VRP-034, a promising drug, in FY24.
In financial terms, Venus Remedies has exhibited an impressive performance over the past three years. The company achieved a Compounded Annual Growth Rate (CAGR) of 18% in sales, an astonishing 119% growth in profits, and a solid 9% increase in return on equity (ROE). These robust figures underscore the company’s exceptional ability to expand its business and generate profits at an accelerated pace. This remarkable financial performance solidifies Venus Remedies’ position as a global leader in the pharmaceutical industry.
Disclaimer: This post 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.