Venus Remedies achieved impressive financial performance during the first quarter ended June 2006. Its net profit has taken a quantum jump of 169 per cent to Rs 6.18 crore from Rs 2.29 crore in the corresponding period of last year. Similarly, its net sales went up by 107 per cent to Rs 31.85 crore from Rs 15.38 crore. The earning per share improved to Rs 7.35 from Rs 2.72.

The company received Ukrainian GMP accreditation for its new Baddi facilities for manufacturing Oncology and Cephaloporins products. Its German wholly owned subsidiary got possession of and commenced operations with the newly acquired German GMP certified unit during the quarter ended June 2006. The company recently filed its fifth PCT application for grant of international patent of its R&D formulation.

Venus expanded its customer base with the additions of Nicholas Piramal and Marksons Pharma Ltd. The company technology transfer cell entered into an in-licensing agreement for India and 10 Asia-Pacific countries with University of Illinois, Chicago, US. For its patent on Product or detection of tumors by imaging technology.