Smallcap pharma stock hits over 8% upper circuit after securing marketing nod for chemotherapy drugs; do you own?

Venus Remedies Share Price Today: Shares of pharmaceutical major Venus Remedies were locked in at over 8 per cent upper circuit at ₹407.60 apiece on the BSE, near its 52-week mark of ₹419.05 on Thursday, December 21. 

The rally was driven after the pharma company announced that it has secured marketing authorisations for three variants of Docetaxel in Israel and for Cytarabine 100 mg in Colombia. These drugs are typically used in oncology and chemotherapy to treat cancer patients.

‘’Venus Remedies, a global leader in pharmaceutical innovation, is excited to announce dual achievements in securing marketing authorisations for three variants of Docetaxel in Israel and Cytarabjne 100MG in Colombia. The approved Docetaxel variants (160MG/8ML, 80MG/4ML, 20MG/1ML) and Cytarabine further solidify our commitment to advancing healthcare solutions globally,'' said the company in a regulatory filing to the stock exchanges.

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On Thursday, shares of Venus Remedies opened at ₹375.95 and gained 8.4 per cent to hit an intra day high of ₹407.60, compared to its 52-week high of ₹419.05 apiece on the BSE. Shares settled 6.24 per cent higher at ₹399.40 apiece on the BSE.

Earlier this month, Venus Remedies on Wednesday said that it received marketing authorisation from Philippines and Saudi Arabia for three oncology drugs.

The Panchkula-based company said in a statement that it received regulatory approval from Philippines, the second largest market in the Association of Southeast Asian Nations (ASEAN) region, for chemotherapy drug paclitaxel and zoledronic acid.

The company also secured marketing authorisation from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region, for another oncology drug, bleomycin.

Terming the marketing authorisations from Philippines and Saudi Arabia as a significant achievement, Saransh Chaudhary, president, Global Critical Care, Venus Remedies Ltd said, "these marketing approvals are an endorsement of our regulatory prowess and uncompromising quality in line with rigorous global standards, making us a prominent supplier of the three drugs in 15 countries."

Aditi K Chaudhary, president of the company's International Business wing, emphasised the strategic importance of these regulatory milestones, saying, "These approvals mark a crucial step in our international expansion strategy. We are proud to contribute to the improvement of healthcare access and outcomes in South East Asia and the Middle East."