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| Exchange Disseminated Time | Venus Remedies Ltd has informed BSE that:
"This has reference to the downgrading of external rating by CRISIL. In this regard we would like to inform that, the company had availed a major part of the term loans for its ongoing research and development activities. The company has been consequently awarded with European and other regulated geographies "GMP" certifications for its manufacturing plants. These unstinted efforts have resulted in the company having more than 100 patents globally, besides a steady pipeline of products by Venus Medicine Research Centre. The Commercial outcome of these Initiatives is that the company has been able to make prestigious International Tie ups for its research products with some of the best pharmaceutical companies of the worId. Negotiations are also continuing for out licensing at advanced stages to some block buster products. The gestation period for the research and its commercialization is long as compared to the period for normal business activities." |
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