Venus Remedies rose 3.79% to Rs 282.25 after the company said it won WHO Good Distribution Practices (GDP) certification for quality services across entire supply chain.
Venus Remedies has received the certification from SociGale de Surveillance (SGS), the world's leading testing inspection and certification company, in an endorsement of its quality services throughout the entire supply chain cycle.The company said it has consistently maintained impeccable standards in its distribution operations and processes through proven quality management systems.
SGS awarded the WHO GDP certification to Venus Remedies following an elaborate audit. Internationally accepted pharmaceutical GDP regulations stipulate that distributors of pharmaceutical products and warehouses must align their operations with the specified standards.
The firm said it has adopted a 360-degree customer-centric approach to increase transparency and efficiency in the pharmaceutical supply chain. It has gone for process upgradation with digital marketplaces for online ordering, real-time order tracking. payment reconciliation and live chat support. The company has adopted IoT technologies to expand the reach of products to stockists/retailers directly and track shipments, along with essential data points like temperature, humidity and anti-tampering alarms in real time. It has developed proprietary warehousing algorithms for cartonisation and shipper-selection to reduce shipping and delivery time to half.
Having more than 25 Good Manufacturing Practices (GMP) approvals for its globally benchmarked manufacturing facilities, Venus Remedies has also been accredited with the Good Laboratory Practices (GLP) certification for its research center.
Venus Remedies is among the leading injectable manufacturers in the world. Net profit of Venus Remedies declined 51.54% to Rs 5.65 crore on 1.97% rise in net sales to Rs 124.34 crore in Q3 December 2021 over Q3 December 2020.
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