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| Exchange Disseminated Time | Venus Remedies Ltd has informed BSE regarding "Venus Remedies spreads its wings in GCC. First Indian company to receive GCC approval to market its Oncology & Carbapenem range of products in Gulf"
Announcement:
"The Company has once again achieved a very significant landmark in its list of achievements. It has now been awarded the company registration from GCC (Gulf Cooperation Council). This approval holds significance and is prestigious as such registrations are obtained by the manufacturing facilities which meet world class standards and where quality is of the prime essence.
With this prestigious grant Venus Remedies will strengthen its footmark in GCC pharmaceutical market and will enhance its revenues by 10% per cent by 2013.
Venus Remedies is already present in different countries of middle east with its products in oncology,
carbapenem/cephalosprin segment. With this Company registration certificate, Venus Remedies Limited now features as the first Indian Company having received the GCC approval to market its Oncology & Carbapenem range of products in all the GCC countries comprising of Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, and Oman.
The GCC combined pharmaceutical market is worth more than US$8 billion growing at CAGR of 8%, which offers tremendous opportunities to the Company to enter both in the private and public segments of the market. "I attribute this success to the five years of dedicated hard work of the VRL team" added Mr. Chaudhary.
Combined GCC tender of the states alone accounts of mare than US$900 million and the Company has ambitious plans to participate in this institution sales.
Earlier, Venus was also awarded Saudi Arabia FDA GMP which gave it the opportunity to enter in the Saudi Arabian market alone worth of $ 3.5 billion."
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