DSIR renews recognition for Venus Remedies’ R&D unit
The company invested 3.53 per cent of its total sales in R&D, from which it has generated 5.25 per cent of its total revenue, which stood at Rs 575.18 crore in FY 2021-22
Venus Remedies announced the renewal of recognition for its in-house Research and Development (R&D) unit by the Department of Scientific and Industrial Research (DSIR), Ministry of Science & Technology, Government of India.
A company statement informed, “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. Venus Remedies has consistently invested in research and development. The company invested 3.53 per cent of its total sales in R&D, from which it has 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.”
The statement also informed that Venus Remedies has emerged as a pioneer in developing innovative medical solutions to combat antibiotic resistance. Recently, Venus Remedies has become a member of the AMR Industry Alliance (AMRIA). Venus Medicine Research Centre (VMRC), the medicine research center of VRL in India, focuses on solutions in the fields of anti-microbial resistance (AMR), oncology, wound care, and pain management, amongst others.
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