Venus Remedies secures its first patent from Canada
The Indian pharma companyaims at capturing a significant share of the Canadian pharma market.
Chandigarh, September 10, 2012: Venus Remedies has bagged its first patent from Canada for its novel antibiotic adjuvant entity ‘Vancoplus’. The Indian pharma company has plans to launch the product in the next two years.
It is worth noting here that the patent granted to the company is valid up to May 2027. While the company has already been marketing Vancoplus in the Indian market, the company aims to capture a significant share of the Canadian market with this patent.
The Baddi facility of the company is already approved as per the EU GMP standards for manufacturing the drug. The company aims to make a mark in the third fastest growing market across the globe with this patent.
The company mentioned that Vancoplus is growing at a CAGR of 50 per cent from the last three years and apart from Canada, the company also has patents in the US, South Africa, New Zealand, Ukraine and Australia for this product.