Shares of Venus Remedies reached near their 52-week high price after the fixed-dosage injectable manufacturer announced receiving marketing authorisation for two new drugs in Malta, Europe. 

Venus Remedies’ shares hit an intraday high of Rs 429.40, up 4.5% from its last closing price on the National Stock Exchange (NSE). However, the stock lost most early gains and closed 0.35% higher at Rs 411.30.

According to a stock exchange filing by the company, Venus Remedies has obtained two new marketing authorisations for Docetaxel and Gemcitabine in Europe. The drugs are used in chemotherapy treatments for various cancers.

The marketing authorisations have been obtained for Docetaxel in concentrations of 160mg/8mL, 20mg/1mL, and 80mg/4mL of a single vial dose and Gemcitabine of 1g concentration.

Venus Remedies, primarily engaged in manufacturing pharmaceutical Products, is among the top 10 leading fixed-dosage injectable manufacturers worldwide.