Low PE stock in focus: This micro-cap company extends its oncology portfolio in South Eastern Europe after an expansion spree in Gulf!

The stock is up by 50 per cent in 6 months and generated multibagger returns of 365 per cent in 5 years.

Venus Remedies, a leading provider of affordable cancer drugs, has secured marketing authorization from Serbia for gemcitabine and docetaxel, widely used chemotherapy drugs. This is a major milestone in the company's pursuit of building on its oncology portfolio in South Eastern Europe. With this, Venus Remedies has secured 511 marketing approvals for its oncology products across 66 countries.

Oncology drugs constitute the largest proportion of the Serbian pharmaceutical market, which is projected to reach US$397.40m in 2023. Venus Remedies has secured five marketing approvals in Serbia, all in the oncology space. The company is well-positioned to capitalize on the growing demand for oncology drugs in this region, given the high prevalence of breast cancer, ovarian cancer, pancreatic cancer, and cancers of the lung and intestine.

Venus Remedies is now banking on product registrations for gemcitabine and docetaxel from Serbia to pave the way for faster approvals for cancer medicines in other countries in this part of Europe. The company has more than 40 marketing authorizations in South Eastern Europe and the Balkan region, including nine for oncology drugs.

In recent months, Venus Remedies has extended its reach in the Balkans and Eastern Europe by securing marketing authorizations for gemcitabine from Bosnia and docetaxel from Georgia, as well as marketing approvals for other key cancer drugs from Moldova.

Earlier, making rapid global strides through an expansion into the Gulf, Venus Remedies Ltd, a prominent exporter of cost-effective generic drugs operating in over 80 countries, has attained marketing approval from Saudi Arabia. This approval, for its Enoxaparin product in pre-filled syringes, comes from the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region. This market is projected to grow to USD 13.1 billion by 2031, with a 10-year CAGR of 5.4 per cent.

On Monday, Venus Remedies Ltd.’s shares surged 3.35 per cent to Rs 241 per share from the prior close of Rs 233.20. The stock holds a PE of 14.03x, compared to the sectoral PE of 31x, with a market capitalization of Rs 323 crore.

The stock is up by 50 per cent in 6 months and generated multibagger returns of 365 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.