Venus Remedies to set up research centre

CHANDIGARH: Venus Remedies Ltd plans to set up a research centre on cell culture for developing patented anti-cancer injectables at an investment of $1 million. The centre will be set up at Baddi in Himachal Pradesh by February 2011.

The company expects the centre to increase its oncology segment's share in total revenue to 35 percent in the next two years. At present, anti-cancer segment accounts for 27 percent of the company's total turnover.

The company is targeting total sales of Rs 360 crore by March 2011. Venus Remedies manufactures Oncological and Cephalosporin Injectable products at its facilities in Panchkula (Haryana), Baddi (Himachal Pradesh) and Germany.