Chandigarh, May 16: Pharma company Venus Remedies Ltd on Tuesday announced the renewal of recognition for its in-house Research and Development (R&D) unit by the Department of Scientific and Industrial Research (DSIR), Union Ministry of Science and Technology.
“This renewal underscores Venus Remedies’ commitment to innovation, excellence in research, and its significant contributions to healthcare,” Venus Remedies said in a statement.
With 15 patented products brought to market and several others in the pipeline, VRL’s R&D portfolio demonstrates a progressive approach to drug development, it added.
“The company invested 3.53 per cent of its total sales in R&D, from which it generated 5.25 per cent of its total revenue, which stood at Rs 575.18 crore in FY 2021-22. The R&D spend for the same period amounted to Rs. 20.31 crores,” as per the statement.
With the renewal of recognition from DSIR and its ongoing efforts to combat antimicrobial resistance, Venus Remedies Limited solidifies its position as a leading research-driven pharmaceutical company, dedicated to excellence in research and bringing innovative medical solutions to address global healthcare challenges, it said.
“Our in-house R&D unit has been at the forefront of pioneering research and development initiatives,” said Saransh Chaudhary, CEO of Venus Medicine Research Centre and President of Global Critical Care at Venus Remedies.
“This renewal of recognition from DSIR reinforces our position as a research-driven pharmaceutical company dedicated to bringing innovative and effective solutions to address global healthcare needs,” he said.
Venus Remedies has emerged as a pioneer in developing innovative medical solutions to combat antibiotic resistance, a global health concern, the statement said.
As part of its commitment to addressing antimicrobial resistance, VRL has created a range of patented superbug-fighting solutions, including Elores, it added. (PTI)
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