Venus Remedies, a Rs. 300 crore plus pharma company, has posted net profit growth of 5.2 per cent during the second quarter ended September 2010 to Rs. 11.57 crore from Rs. 11 crore in the corresponding period of last year. The lower growth in net profit is mainly due to higher interest burden which increase to Rs. 5.11 crore as against Rs. 2.11 crore in the last period. Its net sales improved by 14.6 per cent to Rs. 85.75 crore from Rs. 74.86 crore.

The company received one more GMP approvals for its 7 facilities including oncology liquid, oncology lyophilized, cephalosporin, carbapethem, cardiovascular, small volume infusion and other specialty injection from National Medicine and Poison Board Republic of Sudan. It received marketing authorization from Portugal for its high speciallty antibiotic penem pharmaceutical product Imipenem+Cilistatin.

The company also received European Union patent for its researched anti infection product, Sulbactomax. This is India's first researched anti-infection product for catering bacterial resistance to get EU patent and is a breakthrough from Venus. It has submitted 18 product dossiers for registration in 9 countries across the Globe with a total submission of 417 product dossiers in 35 countries. It has got 22 product registration with total registrations of 269 and with this the company product are present in 23 countries of LAC, South East Asia, Africa/Middle East and Europe.

For the first half ended September 2010, Venus Remedies recorded net sales growth of 10.1 per cent to Rs. 167.92 crore from Rs. 152.46 crore in the similar period of last year. Its net profit increased only by 2 per cent to Rs. 22.49 crore from Rs. 22.04 crore. The EPS for the first half worked out to Rs. 26.59 as against Rs. 26.01 in the last period.

The company received patents from Australia and Ukraine for its research product 'Potentox', a combination of Cefepime and Amikacin, under the title 'Antibiotic Combination of Amikacin and Cefepime for providing total solution for the treatment of infection ' in October 2010. These patents are valid until 2025. The company is currently in the process of out licensing and further registration of Potentox in different markets world wide. The product was launched in Indian market in three years back after completion of all pre-clinical and multi centric phase III clinical trials on more than 300 patients after DCGI approval and the product has already been used by more than 50,000 patients across India. Venus is also in the process to launch pediatric version of this medicine.