Venus Remedies, a leading research-based global pharmaceutical company, has received the “Innovative 100 Award” for its novel research product Elores, a drug designed to fight superbugs against which other antibiotics fail to respond.
After receiving the award, Pawan Chaudhary, chairman and managing director, Venus Remedies Limited, said, “This award is recognition of the efforts of Venus Remedies in the field of anti-microbial resistance. Elores, our flagship product, has carved a niche for itself within one year of its launch. We have spent $10 million on its R&D. Elores has received patents from 46 countries, including USA, Australia, India and many European Union constituents. Being the first one to develop it, we will have the first access to global markets, which gives us a clear advantage.”
Elores is known for its efficacy against serious hospital-acquired infections caused by multidrug-resistant metallo-beta-lactamase-producing gram negative strains of bacteria such as E. coli, K. pneumoniae, P. aeruginosa and A. baumanni, which have also become resistant to carbapenems, considered last-resort drugs. Infections caused by resistant microorganisms fail to respond to conventional treatment, thereby resulting in prolonged illness and greater risk of death. Elores has a unique profile of action, which gives it an edge over all the existing therapies.
Globally, the systemic antibacterial market, growing at a compound annual growth rate (CAGR) of 7.2 per cent, is set to reach US$ 44 billion by 2016. Elores is capable of combating infections caused by multidrug-resistant ESBL/MBL-producing gram negative bacteria, which constitute 25 per cent of this market, thus creating an opportunity of more than US$ 11 billion for Venus Remedies in the next few years. Elores has received a tremendous response from the medical fraternity since its launch in India in January this year.