The share price of Venus Remedies Ltd gained 3% on Tuesday, 31 December, after the company announced receiving a Good Manufacturing Practice (GMP) certificate from the government of Moldova, expanding its reach into Eastern Europe. 

In its regulatory filing, the company said, “With this certification, we are now well-positioned to further extend our presence in the East European market.”

Venus Remedies has received approval from the Moldovan Health Ministry for its antibiotic carbapenem facility. According to the company, this approval will facilitate access to “high-quality, effective, and reliable antibiotics” throughout the region. Carbapenems are a broad-spectrum class of antibiotics commonly used to treat severe infections.

Earlier in December, the company also received marketing approval in the Philippines. 

The Centre has outlined an ambitious plan to expand India’s pharmaceutical sector from its current size of $43 billion to $120 billion by 2030. The initiative prioritizes manufacturing and exports, aiming to solidify India’s reputation as the “Pharmacy of the World.”

At 3:30 pm, the shares of Venus Remedies were trading 1.77% higher at Rs 315.55 on NSE.

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