Venus Remedies compltes Final Phase IV of Baddi Project

Venus Remedies Ltd has announced that the Phase IV of the prestigious Baddi Project of the Company has been completed.

The Company has successfully completed and put on trials the last and final Phase IV of the Multi-Crore and Multi-facilities Baddi Project started in April 2005. The Phase IV of the Baddi Project of the Company, consisting of 2 dedicated plants for specialty formulations, one for Pre-Filled injectible filling in glass syringes and a dedicated plant for Hormones in injections have been completed in all respects and now put under validation runs and trial production. These new dedicated Plants shall be further broad-basing the Company's Product Profile with the addition of Hormones and Heparins in its Product List.

The PFS facility has a production capacity of 10,000 pieces / day in single shift while the Hormones Plant Capacity is of 25,000 pcs per day. With the completion of these two plants, all the 8 modern plants for dedicated Manufacturing of Cephalosporins, Carbapenems, Oncology Liquid, Oncology Lyophilized, PFS, Hormoness, SVP in Ampoules and Injections in Liquid Vials have been completed by the Company, well ahead of its scheduled target for December 2007. Six of these plants have been put into Commercial operations, as on date and by the end of this Quarter, all the Eight sections would be in Commercial Operation.

These new plants have been built strictly as per International Standards with stringent Quality Control norms and the earlier Phases have been accredited with many International Plant Certifications till date. The Research Wing of the Company has a complete Range of products in Hormonal and Heparin Segments ready for commercial launch from the newly created facilities and the Company has already entered into Strategic Tie-Ups for supplying these to Domestic markets. Negotiations with foreign MNC are also in process for PFS and Hormones Injections for Export markets.

The Multi-Crore Baddi Project is now nearing its completion, with only the Research & Development Centre to be completed and would suffice the infrastructure requirement of the Company for achieving its Mission 2010 for INR 500 Crores turnover.

Source : Equity Bulls

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