Venus acquires German pharma unit

Venus Remedies has acquired a pharma unit in Germany through its recently established subsidiary, Venus Pharma GmbH.

Foraying into European markets, Venus Remedies Ltd has acquired a pharma unit in Germany through its recently established German subsidiary, Venus Pharma GmbH.

HT Image

The acquired unit would be operational under the new management from April 01, 2006 and would be the maiden overseas acquisition of the company, it informed the Bombay Stock Exchange

With the recent establishment of USFDA standard facilities at tax free zone of Baddi and Himachal Pradesh, the German acquisition would facilitate a synergy of operations and lead to higher margins for the company's products in the European markets, it said.

The company is also planning to go in for product registrations of its R&D products in Europe.