Venus Remedies Gets Final Milestone Payment from Cipla Under AMR Licensing Deal

MT Newswires Live12-08

Venus Remedies (NSE:VENUSREM, BOM:526953) has received a final milestone payment of 110 million Indian rupees from Cipla (NSE:CIPLA, BOM:500087) under the arrangement for its novel antimicrobial resistance (AMR) focused anti-infective in India, according to a Monday filing to the Indian stock exchanges.

The product was developed by Venus Medicine Research Centre for the treatment of multidrug-resistant infections and was sold to Cipla in 2019 for marketing and distribution in India.

The company's shares were up nearly 1% in recent trade.

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