Venus Remedies has achieved impressive performance during the fourth quarter ended March 2008 and its net profit went up by 62 per cent to Rs 12.31 crore from Rs 7.60 crore in the corresponding period of last year. The company's net sales also jumped by 76.7 per cent to Rs 62.58 crore from Rs 35.41 crore. Venus has launched four new products from its new facilities for Hormones and pre-filled syringes under strategic marketing tie-ups with Pharma giants.
Venus entered into agreements with multinational companies for marketing and distribution of its products in Europe. During the fourth quarter, the company filed its 7th patent application or a new 'Low Dose Combination Antibiotic Formulation' for the treatment of multi-bacterial infections in children. Further, the company received DCGI permission to launch its fifth research product for which patent application is already in process. After completion of phase III clinical trials the same will be launched in the market. This will be the only solution for treatment of infections in Cystic Fibrosis patients.
For the full year ended March 2008, its net profit increased by 46.8 per cent to Rs 42.20 crore from Rs 28.74 crore in the previous year. Similarly, its net sales increased by 51.2 per cent to Rs 213.61 crore from Rs 141.22 crore. The earning per share moved up Rs 49.92 as against RS 34.19 in the last period.