India's Venus Remedies hits near 5-month high after Cipla acquires co's drug

Venus Remedies

18/10/2019 05:26

** Shares of Venus Remedies Ltd  VENR.NS  rise as much as
14.8% in early trade to 33.85 rupees, their highest since May 27
    ** Drugmaker on late Thursday sold patented, anti-infective
drug, Elores, to Cipla Ltd  CIPL.NS  for the Indian market
 urn:newsml:reuters.com:*:nFWN2720S3
    ** About 271,000 shares change hands vs 30-day avg of around
63,000
    ** Stock down 31.8% this year as of last close
    ** Cipla shares are down 0.3%

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; ( +91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))