Venus Remedies stock jumps over 14% to 8-week high on FDA approval for anti-mircrobial resistance therapy
Shares of Venus Remedies, one of the largest manufacturers of meropenem antibiotics and an emerging player in AMR drugs in India, popped up 14.3% in Thursday’s trading session, April 17, to reach an 8-week high of ₹356.65.
This rally came after the company, in an exchange filing today, announced that its investigational product, VRP-034, has been granted Qualified Infectious Disease Product (QIDP) designation by the United States Food and Drug Administration (US FDA) for the treatment of bloodstream infections caused by polymyxin B (PMB)-susceptible strains in adults.
Developed by Venus Medicine Research Centre (VMRC), the R&D division of Venus Remedies, VRP-034 is a novel supramolecular cationic (SMC) formulation of polymyxin B sulfate, uniquely designed to address the nephrotoxic effects associated with conventional polymyxin B therapy.
The QIDP designation, granted under the Generating Antibiotic Incentives Now (GAIN) Act, provides VRP-034 with significant regulatory benefits, including priority review, eligibility for fast-track designation, and an additional five years of market exclusivity upon approval in the United States.
“Receiving QIDP designation for VRP-034 is a pivotal milestone in our efforts to combat antimicrobial resistance,” said Saransh Chaudhary, CEO, Venus Medicine Research Centre.
Stock price trajectory
The company’s shares lost 27% of their value between August 2024 and March 2025. However, the stock has bounced back so far this month, gaining 12%, with most of the gains coming in today’s trading session.
At current levels, the stock is trading 47.5% below its all-time high of ₹639 per share, which was achieved in August 2021. For context, the stock witnessed a one-way rally between March 2020 and July 2024, delivering a massive 2,022% return to shareholders.
According to the company’s shareholding pattern, general public shareholders held the majority stake, owning 56.9% as of the end of the December 2024 quarter. Promoters held 41.8%, while the remaining 1.3% was held by foreign institutional investors (FIIs).
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