New Delhi, April 17 -- 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 Rs.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) formulati...