Venus Remedies, a Chandigarh based pharma company, has received minor setback during the year ended March 2010 despite higher sales. Its net sales increased by 17.1 per cent to Rs 309.73 crore from Rs 264.51 crore in the previous year. However, its net profit declined by 0.2 per cent to Rs 45.42 crore from Rs 45.53 crore. The annual earning per share worked out to Rs 53.61 as against Rs 53.86 in the last period. Its EBDITA moved up by 12.5 per cent to Rs 70.92 crore from Rs 63.03 crore.
During the fourth quarter ended March 2010, Venus received one more product patent for its research product sulbactomax from Intellectual Property Office, India. It also received marketing authorization for its product Meropenem from EU country Portugal. The company launched MEBATIC infusion fixed dose combination antibiotic to fight GI infection. It submitted 24 product dossiers for registration in 15 countries across the Globe. Venus has got 18 product registration and with this its products are present in 22 countries including LAC, South East Asia, Africa and Middle East.