2. Forward Looking Statements We do not guarantee that any forward-looking
In our report we have disclosed forward-looking statement will be realised, although we believe we
AT VENUS,
information so that investors can comprehend the have been diligent and prudent in our plans and
Company’s prospects and make informed investment assumptions. The achievement of future results is
decisions. This annual report and other written and subject to risks, uncertainties and validity of
oral statements that we make periodically contain inaccurate assumptions. Should known or unknown
such forward-looking statements that set out risks or uncertainties materialise, or should underlying WE POSSESS A PRECIOUS HEADSTART
anticipated results based on the Management’s plans assumptions prove inaccurate, our actual results could
and assumptions. We have tried, wherever possible, to vary materially from those anticipated, estimated or OVER MOST INDIAN PHARMACEUTICAL
qualify such statements by using words such as projected. Investors should bear this in mind as they COMPANIES OUR SIZE.
‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, consider forward-looking statements. We undertake
‘plans’, ‘believes’, and words and terms of similar no obligation to publicly update any forward-looking
substance in connection with any discussion of future statements, whether as a result of new information,
operating or financial performance. future events or otherwise.
80+ GLOBAL
PATENTS.
280 PATENT APPLICATIONS ARE
PENDING APPROVAL.
445+ GLOBAL
PRODUCT
REGISTRATIONS
300+ PRODUCT REGISTRATION APPLICATIONS
ARE PENDING APPROVAL.
140+ GLOBAL
WHITE PAPERS
Between the pages
02> Corporate identity 04> Highlights 2011-12 06> Our progress GOING AHEAD, WE WILL CONTINUE TO ENRICH
12> Chairman’s statement 15> Our competitive advantage 16> Calendar of events OUR INTELLECTUAL PROPERTY THROUGH FORWARD-LOOKING
18> Global watermark 20> Management discussion and analysis 37> Analysis of INITIATIVES. WITH THE OBJECTIVE TO EMERGE
the financial statements 40> Derisking the business 42> Spreading smiles AS A STRONGER COMPANY.
44> Directors’ report 50> Corporate governance report 58> Financial section
3. AN INTRODUCTION
VENUS REMEDIES.
SPECIALISTS IN PROVIDING
‘REMEDY-DEFINING’ VENUS REMEDIES, AMONG THE
FORMULATIONS. 10 LEADING GLOBAL FIXED-
DOSAGE INJECTABLE
MANUFACTURERS, POSSESSES
A WIDE PRODUCT BASKET
CATERING TO HIGH-GROWTH
THERAPEUTIC SEGMENTS
(ANTI-INFECTIVE, ONCOLOGY
AND NEUROLOGY).
THE COMPANY’ S THREE
MANUFACTURING FACILITIES
(PANCHKULA AND BADDI IN INDIA)
AND WERNE (IN GERMANY) ARE
CERTIFIED FOR ISO 9001, ISO
14001 AND OHSAS 18001 THE COMPANY (HEADQUARTERED
EUROPEAN GMP AND 14 OTHER IN PANCHKULA) POSSESSES A
INTERNATIONAL REGULATORY GLOBAL FOOTPRINT ACROSS 60
AUTHORITIES GLOBALLY. NATIONS SUPPORTED BY 11
OVERSEAS MARKETING OFFICES
(INCLUDING A PRESENCE IN THE
US AND GERMANY, AMONG THE
MOST DEMANDING
PHARMACEUTICAL DESTINATIONS
ACROSS THE GLOBE).
4 5
4. 2011-12 IN RETROSPECT
Venus received 22 product patent approvals
from regulated markets
Snapshot of key achievements
Growth in financials Products and markets Operations Intellectual property
Launched four products of which two Invested ` 85 million in strengthening Received 22 product patent approvals
are research-based products operational capability from regulated markets
Established a presence in nine new Invested ` 824.40 million (20% of net Filed 9 CTDs, 14 ACTDs and received 97
markets, extending the Company’s export revenue) in R&D-IPR efforts product registrations from emerging
presence across 30+ nations markets
EBIDTA GROWTH
Received 31 market authorisation
REVENUE GROWTH
16%+ approvals from regulated markets
13%+
OVER 2010-11
OVER 2010-11
Revenue break-up
By products By geography
Institutional:
Cephalosporin Small volume 8% Domestic
and penems: 32% parenterals: 23% Europe: 10% (own): 41%
PROFIT AFTER
TAX GROWTH
5%+
OVER 2010-11
Infusion:
14%
Rest of
world: 20%
Oncology: 31% Domestic
(alliances): 21%
BOOK VALUE GROWTH
21%+
OVER 2010-11
To establish Venus as an innovator
company.
To make every department as an
independent profit centre.
To create intellectual property wealth of To achieve new heights by the creation
one billion US dollars. of Venus Industrial Complex.
To ensure commercialisation of To develop and sustain a highly
intellectual Property right of the Company motivated and empowered team for
worldwide realisation of self progressive society
To establish Sulbactomax as a ` 100 dream.
crore brand To be a globally admired pharmaceutical
To ensure Venus’ presence in 60 company for world-class quality and
innovation.
MISSION,
countries around the world
To make Sulbactomax/Septiloc,
2015
Ampucare/Potentox and Vancoplus as
global products.
6 7
6. VISION
We are in the business of preserving and improving
human life through innovation
We exist to provide value to our customer
We shall build Venus as a Nation
UNCLUTTERED SPACES.
A T VENUS, WE FOCUS ON BASIC UNMET ISSUES AND SPACES WITH LIFE THREATENING IMPLICATIONS.
MULTI-BACTERIAL RESISTANCE IS ONE SUCH ISSUE. THERE IS A GROWING RESISTANCE TO ANTIBIOTICS
WITH MORE THAN 50% OF THE EXISTING ANTIBIOTIC THERAPIES HAVING LOST THEIR POTENCY.
At Venus, we responded Developed unique antibiotic- Positioned our product
to this growing reality non-antibiotic combinations Vancoplus, the only known
through a number of (Antibiotic Adjuvant Entities – remedy for MSRA, VSRA and
initiatives. (AAE)) that breaks this resistance multi-drug-resistant bacteria
and rejuvenates the effectiveness which causes meningitis,
of existing therapies. pneumonia, typhoid among
Strengthened the other ailments, as an effective
effectiveness of our new AAE remedy. The product received six
product ‘CSE 1034’ against a global patents (including Japan
range of drug-resistant and Australia).
infections including ‘super-bugs’. Venus created a robust pipeline
This received the coveted US of products to treat multi-
patent, the cost of therapy about microbial resistance, which will
30% cheaper than conventional be progressively launched.
alternatives.
44
Sulbactomax, our US$12 million flagship
product for treating multi microbial
resistance, received 44 global patents.
10 11
7. VISION
We ensure product quality, safety, reliability and
excellence.
We manufacture medicines for patients, not for
profits; profit follow.
We work with passion, commitment and
enthusiasm.
UNIQUE THERAPIES.
C ANCER ACCOUNTS FOR ONE LIFE EVERY SEVEN MINUTES SOMEWHERE IN THE WORLD.
MOST OF THESE INSTANCES ARE THE RESULT OF LATE DETECTION. BESIDES, TYPHOID AFFECTS
17 MILLION ANNUALLY, CAUSING NEARLY 0.6 MILLION DEATHS DUE TO INADEQUATE DETECTION.
At Venus, we are possess the mandate to globally
working in the areas of We completed Phase I & II market this early detection kit
early disease detection clinical trials for VRP1620, a with the objective to put this on
and target based cancer detection molecule, which shelves starting 2013-14.
remedies with the will facilitate cancer detection We established the pre-clinical
objective of saving through a simple X-ray in a few proof of concept for our Drug-
human lives, through hours as opposed to the Protein-Polymer-Conjugate, a
various initiatives. conventional 4-6 days. The Phase patent-protected technology
III of this product will help in platform that allows the
locating proliferation of the conversion of any cancer drug to
cancer site. a target-based treatment,
We partnered with IMTECH enhancing treatment efficiency
(Punjab) to develop a typhoid and cost-effectiveness.
diagnostic kit to reduce We created a product
detection time from 48 hours discovery pipeline of 25
(under the conventional Vidal injectables, which will be
test) to a few minutes. We commercialised shortly.
25
We created a product discovery pipeline of
25 injectables, which will be commercialised
shortly.
12 13
8. VISION
We believe in hard work, productivity
and continuous improvement.
We encourage and respect individual
initiative, ability and creativity to develop
people as the source of our strength.
“WE EXPECT TO It was a successful 2011-12 for Venus
Remedies.
revenues 13.60%, our EBIDTA
strengthened 16.54% and PAT climbed
scaled the value chain to enter high-value,
high-growth lifestyle therapeutic spaces.
ENCASH OUR DEEP We reported progress in strengthening our
industry position, resulting in an innovation
5.37% in 2011-12. Besides, infectious diseases continued to
affect the world with a growing ‘multi-
VALUE THROUGH The true Venus drug resistance’ to antibiotics. At Venus,
2.5
recall at par with India’s leading
At Venus, our longstanding focus in we focused on developing novel
pharmaceutical players. What gives me
VARIOUS INITIATIVES satisfaction is that we pioneered solutions in
established segments, leading to attractive
treading the road less traveled translated
into unique products.
translational paradigms to combat
antibacterial resistance by using adjuvants
(million, US$)
Vancoplus (US$2.5 million revenues) is
OVER THE opportunities and possibilities.
Our financial performance was
Antibiotics: Having addressed chronic
ailments with a number of formulations
to untangle resistance-causing
mechanisms and rejuvenating antibiotic
available in few emerging markets
coupled with registration in many
FORESEEABLE FUTURE.” (strengths, chemistry and combinations), effectiveness. countries. The product has already been
correspondingly heartening: we grew used by more than 25,000 patients.
most global pharmaceutical companies Cancer: In 2010, nearly six lakh people
14 15
9. VISION
We practice honesty, integrity and ethics in VENUS’
COMPETITIVE ADVANTAGE
all aspects of business and strive to be the
best corporate citizen
We acknowledge our responsibilities
towards our customers, our employees, the
society at large and last but not the least, our
shareholders.
died of cancer in India, of which 70% were We hope to encash our Intellectual
10
The Company features among
10 leading global fixed-dosage
aged between 30 and 69. A large number Property through out-licensing deals with
injectable manufacturers; it
of deaths could have been arrested if the global pharmaceutical players in regulated
possesses Asia's largest injectable
ailment had been detected early. markets. We appointed global manufacturing capacity.
At Venus, we completed the Phase I & II
trials of our novel molecule VRP 1620 and
consultancies to help us identify, analyze
and shortlist attractive alliance
opportunities; we expect to endorse 1,000+ 3
plus
filed a patent application with the Indian
business-strengthening agreements in Years The Company is present in the
regulatory authorities. This product will
12-18 months. The cumulative person-years of high-value, high-growth
highlight cancer-affected areas through a
experience resident within the therapeutic segments of oncology,
simple X-ray, facilitating early detection. Additionally, we filed nine market
Venus team. anti-infectives and neurology,
On launch, this will be the first-of-its-kind,
anti-cancer detection product in the
world. We also established pre-clinical
authorisations in Europe; following
approval, this will open a new opportunity
window for the Company.
80+ patents
among others.
proof of concept for our Drug-Protein-
In the interim, we are seeding our The Company received 80+
Polymer-Conjugate, our patent protected patents from global and domestic
patented products in under-regulated
technology, which will allow us to develop authorities out of 360 patents
markets through distribution alliances and
target-based therapies. Using this
technology niche, we developed a strong
product pipeline to be launched over the
11 global marketing offices.
We generated 10% of our revenues in 15
filed across more than 50
countries. 60
countries
2011-12 through regulated markets; we certifications
coming years. The Company established a
expect these markets to make a higher The Company's three
presence across 60 nations
Maximising returns contribution to our turnover in the coming manufacturing facilities received
(regulated and semi-regulated),
Until recently, the Company focused on years. 15 national and international
supported by 11 overseas
GMP certifications.
creating unique ‘life-bettering’ offices.
Besides, we expect to reinforce our
formulations, validated through global
patents from regulated (the US, Europe,
Intellectual Property with more global
patents for ‘life-bettering’ drugs,
25
alliances
Japan and Australia) and semi-regulated
reinforcing our competitive advantage.
markets; we have three US patent The Company enjoys strategic
marketing alliances with
10
approvals. Shareholders and message
leading global and domestic
At Venus, I must assure shareholders that
At Venus, we recognise that after having % pharmaceutical companies.
achieved 80-plus global patents in eight the strength of our portfolio will translate
We generated 10% of our revenues in
years, the next challenge lies in being able into superior returns, enriching lives and
2011-12 through regulated markets;
to commercialise them. To take this enhancing value.
we expect these markets to make a
development to its logical conclusion, higher contribution to our turnover in the
Venus is exploring opportunities to forge coming years.
Regards,
marketing alliances with leading global
Pawan Chaudhary
pharmaceutical players.
16 17
10. November, 2011 December 2011
CALENDAR OF EVENTS. Venus Remedies won League of American
Communications Professionals’ Global
Venus Remedies won the 'Silver Certificate of Merit' in the
Economic Times' India Manufacturing Excellence Awards
Communications Competition for this annual (IMEA), 2011. This award endorses the Company’s continuous
April 2011 May 2011 report 2010-11. The Company won the Bronze in endeavour in elevating Venus Remedies among the top
Venus completed Phase I & II clinical trials for VRP1620, The Company was awarded the Gold Medal in DST-Lockheed the '2011 Spotlight Awards'. pharma giants of the industry.
a cancer detection molecule. Following the launch of Martin India Innovation Growth Program - 2011 for TROIS, one of
Venus Remedies received approvals for Market Venus Remedies won the 'Emerging Company of the Year
this product, the detection of breast cancer will be its integrated medicinal research products. This nanotechnology-
Authorisation from MHRA (UK) through the DCP 2011' award in the 4th annual Pharmaceutical Leadership
possible using a simple X-ray using dye; the sensitivity based product received 178% faster penetration, accelerating
route for its generic broad spectrum injectable Summit & Award 2011. It is Asia's leading and prestigious
of other detection devices like colored Doppler and PET action, making it possible for millions of elderly arthritics to lead
antibiotic carbapenem. It also received the Market Summit, organised by large and respected pharma sector
will increase exponentially. a pain-free life.
Authorisation for the same product from New brands.
Venus was granted a patent by European Patent Office (EPO) for Zealand's Ministry of Health.
ACHNIL, a once-a-day painkiller injection. This patent grant will
be in force till 2025.
July, 2011 August, 2011 October, 2011 February, 2012 March, 2012
The Company launched a novel The Company received its first US patent Venus Remedies received the Patent ACHNIL, BioSpectrum Product of the year 2012
Venus Remedies achieved an important landmark
formulation - ACHNIL brand of from US PTO for its novel research Award in Gold category for 2010-11 in with its first patent grant for its novel research Venus Remedies received an award for its novel research
Aceclofenac injection in India. ACHNIL product, Vancoplus, which is valid up to the valedictory function of India—LAC product Vancoplus from Japan Patent Office, product, which secured patent approvals from Europe and
provides instant relief from acute pain December 2027. This research product Pharma Meet by Pharmexcil. This award among the most stringent in the world. India. The product was chosen for its uniqueness in
and is effective for 24 hours against the took more than seven years following its was conferred in recognition of the addressing a critical health condition. The global pain
conventional daily dose of three injections development to receive this coveted Company’s contribution to formulation management market is expected to grow to US$60 billion by
of Diclofenac given every eight hours. patent. R&D. The Company was granted 44 global 2015. Currently, an estimated 1.5 billion people worldwide
The Company received the Market patents for its novel research drugs in suffer from chronic pain of varying intensity.
Authorisation in Europe for its anti-cancer 2010-11.
product Docetaxel.
Vancoplus in Japan Vancoplus in Australia Vancoplus in the US Market Authorisation for the ACHNIL in India
Venus Remedies entered the Japanese Venus Remedies’ Vancoplus received the
Venus Remedies received its first US European market Venus Remedies launched ACHNIL, the
market with its patented Vancoplus, the patent in Australia. This is a relevant
patent for Vancoplus, the only remedy The Company launched its anti-cancer once-a-day pain management therapy in
development: about 7,000 Australians
only known remedy for MRSA, VRSA and after vaccination for the effective drug Docetaxel in Europe by end 2011 India. The Indian market for pain
die annually from drug-resistant
multi-drug resistant bacteria. The global bacteria like Golden Staph infections treatment of MRSA and multi-drug following the receipt of Market management is estimated at around
market size of MSRA is estimated at (Source: Medicine Australia). According resistant microbes. The estimated medical Authorisation. The European market for ` 2,000 crore, growing at 16-20%
EMERGING US$900 million (projected at US$1.2
billion by 2017). MSRA incidence in
Japan, the US and southern Europe
to the Australasian Society of Infectious
Diseases, antibiotic resistance is one of
the foremost issues that will affect
impact of MRSA was estimated at US$5
billion in USA in 2010 and projected at
Docetaxel is estimated at around US$1.6
billion.
annually and expected to reach ` 3,500
crore by 2015.
PROSPECTS
US$9 billion in five years.
healthcare worldwide (including
ranges at 20-60%.
Australia) over the coming years.
18 19
11. GLOBAL WATERMARK
(Patents from regulated markets)
AWARDS
BioSpectrum Product of the Year - ACHNIL (2011) Quality Award 2011 (Geneva) Best Innovation Award 2010 & 2011 Company of the Year 2011 The BIZZ Excellence Award (USA) Pharmexcil Gold
Patent Award 2011
20 21
12. Indian economy
India GDP growth declined from 8.4% in 2010-
11 to 6.5% in 2011-12. GDP growth in 2011-
12 was the lowest in nine years (save 2008-09).
MANAGEMENT
DISCUSSION AND
ANALYSIS
Economic overview risks of a renewed upsurge of the crisis in low growth, India remained one of the Persistently high international crude
Europe continue to loom large, along with fastest-growing global economies. petroleum prices
Global economy: The global environment
turned adverse in the second half of 2011, geopolitical uncertainties affecting the oil Domestic factors like monetary tightening
Global factors (euro zone crisis, geopolitical
owing to turmoil in the euro zone, slow US market. and raising the repo rate to control inflation
disturbances and climatic extremities)
recovery and monetary imbalance in made industrial borrowing expensive,
Overall, global growth is projected to drop contributed to the domestic economic
emerging economies. Growth in several infrastructure projects unviable and
from around 4% in 2011 to about 3.5% in slowdown.
major developing countries (Brazil, India, depressed the manufacturing sector growth.
2012 and projected to recover to 4.1% in
Russia, South Africa and Turkey) slowed 2013 as per IMF (Source: World Economic
Headline WPI inflation remained high at
around 9% during 2011 for the following
Besides, the rupee lost more than 10% of its 2.1
partly in reaction to domestic policy Outlook, April 2012) value during the year, making it one of the USA’s economic growth is projected
reasons:
tightening. As a result, global GDP grew worst performing currencies in Asia, eroding at 2.1% in 2012 and 2.5% next
Indian economy: India GDP growth Higher prices of primary products
3.9% in 2011 as against 5.3% in 2010. India Inc.’s profitability, widening India’s year, reflecting ongoing fiscal
declined from 8.4% in 2010-11 to 6.5% in (vegetables, eggs, meat and fish) due to
changing diets trade deficit and adversely impacting India’s consolidation and continued
Although action by policymakers in Europe 2011-12. GDP growth in 2011-12 was the
Increasing global commodity prices current account deficit. weakness in housing prices.
and elsewhere helped reduce vulnerabilities, lowest in nine years (save 2008-09). Despite
22 23
13. Going ahead, the GDP growth estimates years, adding US$150 billion by 2015 driven over five years driven by a convergence of
range between 6.7-7% in 2012-13 by accelerated volumes. The growth of a factors (rising household incomes,
consequent to the deficient rainfall and its number of pharmerging countries are increasing incidence of lifestyle-related
impact on inflation. marked by strong domestic companies diseases, improving healthcare).
which market low cost generics, branded The Indian pharmaceutical market growth is
Global pharmaceutical sector generics and unauthorised variants of largely driven by formulations for chronic
Medical spending is likely to reach nearly original brands. Patients pay out-of-pocket therapies; acute therapies are largely driven
US$1,100 billion in 2015, reflecting a for the majority of medicines in these by Tier-III cities and rural penetration.
slowing growth rate of 3-6% over the five- markets, which limits the use of expensive
year period compared with 6.2% annual new medicines. Growth estimate
growth over the previous five years. The Indian pharmaceutical market is
Absolute global spending is expected to be Indian pharmaceutical sector expected to grow from US$11 billion
US$210-240 billion, compared to US$251 Until not too long ago, India's presently to US$74 billion by 2020 (Source:
billion since 2005. pharmaceutical space was written off as a PricewaterhouseCoopers).
self-pay generics-based market adept at
Spending on generic drugs (including
Growth drivers
US generics branded generics) is expected to grow at a
product duplication; today, the sector has
claimed a significant share of the global Population growth at about 1.3%
to reach CAGR of ~13% through 2015, compared to
~5% CAGR for the overall pharmaceuticals
market by leveraging strengths and annually and a steady rise in disease
prevalence will increase the patient pool by
highs in market; their share in the overall medical
enhancing its regulatory and technical
nearly 20% by 2020
maturity.
2012 spending is expected to rise from 20% in
2005 to about 39% in 2015. The share of Currently, the Indian pharmaceutical
Increasing penetration of health
insurance from 26% in 2010 to about 45%
The year 2012 marks the entry
branded drugs is expected to decline from industry's market size (including export) is in 2020 is expected to drive domestic
into the peak phase of the demand
~64% of global pharma spend in 2010 to an estimated at ` 1 trillion per annum. It ranks
patent expiry cycle, with India’s per capita rural income of
estimated 53% due to an increasing generic third in the world by drug volume (10% of
brands worth US$40billion ` 19,000 is expected to increase to ` 24,000
presence arising out of accelerating patent global share) and fourteenth by value (about by 2015 (Source: McKinsey), which should
losing patent protection.
expiries. 3% of global sales). enhance pharmaceutical spending.
Several blockbuster drugs Cancer – a silent killer
(with sales over US$1billion) Pharmerging countries are expected to The Indian formulations market (valued at India’s pharma market is likely to sustain its Cancer prevalence in India is estimated to be around 2.5 million, with over
are set to go generic this year. double pharmaceutical spending in five ` 48,200 crore) grew at a CAGR of 14-15% current momentum (14-15% growth versus 8,00,000 new cases and 5,50,000 deaths occurring each year due to this disease.
the historical rate of 10-12% over 2000- More than 70% of the cases report for diagnostic and treatment services in the
10). This growth is inclusive of metros, Tier-I advanced stages of the disease, which has lead to a poor survival and high
and II cities and smaller or Tier-III and IV mortality rate.
Global spending on medicine Spending by segment Spending by geography towns. However, one-third of this
The Indian oncology market is estimated at about ` 7,000 to 8,000 million. It has
$210- $1065- $1065-1095Bn $1065-1095Bn incremental growth will come from Tier III-
240Bn 1095Bn been indicated that the oncology market in India has been growing at a CAGR of
8 7% IV towns and rural markets, which
$251Bn $856Bn more than 30% in the last three years.
31%
$856Bn $856Bn
28% constitute 20% of the total market, and are
39 53 2% The global cancer market was worth US$56.7 billion in 2007, growing at 16.8%
$605Bn
9 7% 13% 2% currently growing at 25-30%, which is
11%
18%
6% over 2006, and is forecast to grow to US$76.9 billion by 2013, representing a
27
2015
36%
2015
higher than metros and tier-I cities. This is
$605Bn $605Bn 1% CAGR of 5.1per cent (2007-13).
64 11% largely led by increase in income levels,
10 6% 7% 17%
12% 3% higher penetration of healthcare, and The economic toll from cancer, estimated to be US$895 billion is nearly 20%
20
2010 11% 1% 2010
2005
2006-10
2010
2011-15
2015
Brand 41% increase in health awareness among higher than heart disease, the second leading cause of economic loss (US$753
Generic 7% US Japan
70 20% masses. billion).
Canada S. Korea
Other 2%
2005 2005 EUS Pharmerging
Rest of ROW
Europe
24 25
14. 01 VENUS
MEDICINE RESEARCH CENTRE
significantly hasten the testing of cancer Capabilities 40% are M.Pharma and M.Sc degree
drugs. The research centre is recognised by Venus research team comprises 60+ holders. The Company divided its
DSIR for the development of globally scientists and supporting staff, of which intellectual capital into focused teams.
competitive technologies with high 60% are PhDs and post-doctorates and
commercial potential.
Process development
and technology transfer:
The team facilitates the transfer
of technology for scaling a
successful molecule from
Office of research support: laboratory to pilot plant to Analytical research division:
This wing bridges the gap manufacturing locations. The division develops methods
between research and for novel formulations,
marketing through interactions converting the challenges of
with the field force, training analytical development to
of marketing teams and reply support the team in drug
to queries raised by the design.
marketing team.
Venus Medicine Research Centre (VMRC) is tech testing laboratories at par with
dedicated to breakthrough innovations by stringent cGLP standards. These RESEARCH
Chemical and stability
balancing basic biomedical and laboratories cover microbiology, Natural product research: CAPABILITIES testing division: The team
translational research to develop toxicology, molecular biology, This team specialises in enhances product quality
screening natural products through stability tests as per ICH
medicines that treat serious medical biochemistry, pharmacognosy and
which can be used for drug guidelines. It provides validated
conditions. The team focuses on biotechnology including tissue culture, development as per analytical services for research,
developing novel solutions that fill the gap stability and chemical analyses. These pharmacopoeial and to meet global quality and
between challenging ailments and units are equipped with sophisticated medicine standards. regulatory requirement..
available molecules. ultra-sensitive instruments and include an
Highlights 2011-12 international standard animal house
Received patent approval from Pre-clinical division:
Vision approved by the Committee for the This team handles all
the US and the first patent
To establish Venus as an innovator Purpose of Control and Supervision on pre-clinical trials and
approval from Japan Clinical research services:
company worldwide by developing and Experiments on Animals (CPCSEA). The toxicological studies under GLP
Received the ‘Patent Award’ in This team is involved in
commercialising products that provides a Company also set up a Cell Culture Phase-I, II, III, IV and BA/BE environment. Vet pathologists
Gold Category from Pharmexcil
complete solution for serious or life- studies monitoring (as per assist the team in preparing
for 2010-11 Molecular Biology (CCMB) laboratory,
threatening medical conditions. GCP) for research products. requisite disease models in-vivo
Received the BioSpectrum among a few Indian pharmaceutical
by ensuring a compliance with
Product of the Year 2012 award companies with this facility. This facility OECD guidelines.
for the novel research product Infrastructure will enable the research team to
‘ACHNIL’, a once-a-day pain killer The research centre comprises nine high-
26 27
15. 01 VENUS
MEDICINE RESEARCH CENTRE 02 OPERATIONS
Areas of focus Key initiatives, 2011-12 Intellectual property
Novel Drug Delivery System (NDDS): Introduced a nanotechnology-based, To protect the R&D work, the IPR wing at
Development of nanotechnology-based, ready-to-use single vial Docetaxel in the Venus is actively engaged in filing,
sustained release and targeted delivery domestic market under the ‘Taxedol’ brand. procuring and maintaining trademarks,
formulations with NDDS to improve This product gives 11% higher cancer cell copyrights and patents (nationally and
patient compliance, minimise pain and side killing potential as compared with existing internationally). The team is also involved
effects in therapeutic areas of oncology, Docetaxel. in in-licensing new innovative
NSAID, neuroscience, arthritic disorders, Established pre-clinical proof of concept technologies and out-licensing the
stress and lifestyle-related diseases, for the Drug-Protein Polymer-Conjugate Company’s research products to regulated
immuno chemistry, infectious diseases and (DPPC), a patent-protected technology markets.
wound healing. which transforms conventional cancer Patents: The team filed 360+ patents
therapies into target-based cancer
Formulation development: Development globally, of which 80+ were granted and
formulations. The team successfully
of non-infringing formulations to reduce 280 are at advanced approval stages. The
developed a product pipeline for breast
the impact of generic competition, patents cover 51 countries across Europe,
and ovarian cancer using this technology.
revitalise established brands, fill product North America, the Far East, Australia,
pipeline gaps and enhance patient Successfully completed Phase I & II South America, Africa and the ASEAN.
clinical trials for VRP1620, a cancer
compliance. Trademarks: The team filed for 150
detection molecule, making it possible to
detect with a simple X-ray using a dye. The trademarks, of which 70 were registered
team will launch this product in India in and 80 were under various stages of
2013-14. registration.
VENUS’S OPERATIONS ARE UNIQUE BECAUSE THEY JUXTAPOSE DOMESTIC AND INTERNATIONAL OPERATING FACILITIES, AUGMENTING ITS
CAPABILITIES TO OFFER ITS CLIENTS AN UNPARALLELED VALUE PROPOSITION: CUTTING-EDGE TECHNOLOGY AND OPTIMISED COSTS. THE
Research products with international patents COMPANY HAS THREE MANUFACTURING UNITS, TWO BEING IN INDIA AND ANOTHER IN GERMANY. THE QUALITY OF THE SERVICE
Sulbactomax Potentox Tobracef Vancoplus ACHNIL PROVIDED HINGES ON QUALITY CONTROL, IN-PROCESS CONTROL GUIDELINES AND STAFF TRAINING.
Revenue 15% Revenue 4.60% Revenue 2.20% Revenue 3.30% Revenue 1%
of sales (FY12) of sales (FY12) of sales (FY12) of sales (FY12) of sales (FY12) Operational capability
Patents from key nations Patents from key nations Patents from key Patents from key Patents from key 3 units
include the US, South Africa, include South Africa, nations include nations include nations include Europe, 9 manufacturing facilities
Europe, India, Australia and New Zealand, South Korea, South Africa South Africa, and India 80 mn units injectable capacity
New Zealand, Russia, Australia and India New Zealand, Australia, 15 GMP approvals
Ukraine and Mexico the US and Japan 75 products manufactures
Investment in R&D-IPR R&D-IPR as a Panchkula Baddi Germany
(` million) proportion of sales (%) Manufacturing site for large volume Production unit of small volume Situated in the heart of Europe, a
Two-in-one parenterals (capacity 7.5 million units per parenterals, for super speciality segments strategic advantage
473.18
685.48
824.40
15.71
19.22
20.35
ACHNIL, a novel therapy for annum) Manufactures complex and novel Accredited with EU-GMP; possesses
relief against acute pain Parenteral facility for super specialty formulations for oncology injections, world-class QA, QC laboratories
received the BioSpectrum intravenous fluids with state-of-the-art oncology lyophilised, pre-filled syringes and Engages in out-licencing CTDs site
Product of the year 2012 award. laboratories cephalosphorins, among others variation projects, testing and batch
This once-a-day, sustained Accredited with more than 15 GMPs from release for Europe and warehousing and
Accredited with WHO-GMP, Yemen- GMP,
release injectable pain killer
ISO 9001, ISO 14001 and OHSAS 18001 regulated and emerging markets logistics support
replaces the three injections per
Products manufactured include Mebatic, Manufactures key brands namely Doxol, Warehousing capacity of 3,000 pallets
day therapy. ACHNIL is a
Calridol, Moximicin, Neurotol, Glutapep, Paxol, Citabol, Epirol, Ronem, Immunox, under controlled temperatures
combination of burst release for
immediate patient relief coupled among others Pimcef, Fejet IV, Parin-E, Vanconex, Batch release facility for local
with sustained drug release, Dobutacard, Sulbactomax, Supime, Tobracef, manufacturers and pharma exporters and
Locational advantage in manufacturing
making it a one-of-a kind Pirotum, Potentox and many more. four dedicated packaging sections,
09-10
10-11
11-12
09-10
10-11
11-12
strategic products like antibiotics and
product and the preferred pain customising product packaging into local
plasma expenders, among others
management therapy. languages
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