Venus Remedies has extended its footprint in Latin America with marketing authorization from meropenem from Venezuela, a USD 6 billion pharmaceutical market.

The company is planning to launch meropenem in Venezuela in the next couple of months. The USD 10 million meropenem market in Venezuela offers a great opportunity to us and we are aiming to capture a sizeable market in the first year of the launch, the company said.

Shares of the company gained Rs 20.7, or 8.3%, to trade at Rs 269.95. The total volume of shares traded was 61,517 at the BSE (3.21 p.m., Thursday).