Venus Remedies is locked in upper circuit of 20% at Rs 303, after the company said its antibiotic drug 'Elores' received tremendous response from medical fraternity.
The stock opened at Rs 252 and hit a low of Rs 250 on NSE. A combined 798,796 shares already changed hands till 1500 hours against an average sub 25,000 shares that were traded daily in past two weeks. There are pending buy orders for 79,210 shares on NSE and BSE.
The company had launched “Elores” in Indian market early this year, and is planning to take this product to other international market. The company has already filed CTD for this product in Europe.
Earlier this month, the company has signed a deal with South Korean drug company Goodwills Co Ltd for exclusive marketing of its antibiotic drug 'Elores'.
The company is also in talks with international pharma companies in regulated markets for the strategic tie-ups for Elores, it added.
Elores, a drug designed to fight multi-drug resistant ESBL and MBL producing gram negative ICU infections to which other antibiotics failed to respond.
The stock opened at Rs 252 and hit a low of Rs 250 on NSE. A combined 798,796 shares already changed hands till 1500 hours against an average sub 25,000 shares that were traded daily in past two weeks. There are pending buy orders for 79,210 shares on NSE and BSE.
The company had launched “Elores” in Indian market early this year, and is planning to take this product to other international market. The company has already filed CTD for this product in Europe.
Earlier this month, the company has signed a deal with South Korean drug company Goodwills Co Ltd for exclusive marketing of its antibiotic drug 'Elores'.
The company is also in talks with international pharma companies in regulated markets for the strategic tie-ups for Elores, it added.
Elores, a drug designed to fight multi-drug resistant ESBL and MBL producing gram negative ICU infections to which other antibiotics failed to respond.
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