Venus Remedies, a Rs.450 crore plus pharma major from Chandigarh, has received patent for Elores antibiotic against Superbugs from the Japanese authorities. It is planning to launch this product in Japanese market by end of 2015. This unique antibiotics adjuvant entity creates a synergistic effect due to its activity on multi-drug resistant ESBL/ MBL producing gram negative bacteria. It is not only prevents development but also spread of bacterial resistance from one species to other.
Japanese patent has given it now exclusivity for the product in one of the world's most important and lucrative healthcare markets upto 2015. Venus has already filed EU CTD in Europe and is at the verge of getting MA grant for the product. Since EU and Japan has understanding on regulatory front within no time the product can be made available in Japanese market receiving EU MA grant. Elores directly addressed a market of US$ 4 billion against the closest contested competitors category. The company expects this product to generate a revenue of around $100 million by 2018.
Elores was launched in Indian market in January this year and has received tremendous response from medical fraternity. It received patents for this product from 46 countries across the world including US, EU, Australia, New Zealand, Russia, South Africa, South Korea, India and all major economies.
Recently, this product has been awarded as the Best Innovation of 2013 by a team of experts from Standford Business School, US, IC2 University of Texas, Austin, US, Lockheed Martin Foundation in collaboration with DST under Indo-US joint science and technology innovation programme, 2013 and has been selected amongst the top eight technologies to be commercialised in US.