Venus Remedies, a research based pharmaceutical company, has entered into a distribution-cum-outlicensing agreement with Mylan for marketing its generic broad-spectrum antibiotic, meropenem, in three European countries.

This deal with Mylan meropenem in Denmark, Sweden and Finland for a period of five years.

Shares of the company gained Rs 15.4, or 5.59%, to trade at Rs 291.10. The total volume of shares traded was 78,896 at the BSE (10.46 a.m., Monday).