Venus Remedies secures patent from Mexico for antibiotic
This patent takes the total count of patents to seven for Venus’ antibiotic drug, Vancoplus.
Chandigarh, October 29, 2012: Pharma firm Venus Remedies has receives a patent from Mexico for its antibiotic drug, Vancoplus, to combat a wide range of infections. It is worth noting here that the patent has been granted by Mexico Patent office and is valid till February 2026.
"Receiving a patent grant from Mexico for our research product Vancoplus at this point in time when the frequency of MRSA strains is growing high (50-85 per cent) in Mexico is a great achievement for us," said Manu Chaudhary, Joint Managing Director and Director-Research, Venus Remedies Ltd.
It is believed that the total market size of MRSA in the world stands at US$ 9 billion and is growing at a CAGR of 4.8 per cent. The market is estimated to reach US$ 12.4 billion by 2017.
Mexico being the second leading market in the region represents a growing consumer base for the drug industry as by 2020 the regional population may be as high as 687 million, as per Dheeraj Aggarwal, CFO, Venus Remedies.
Venus Remedies is currently exporting to the various countries of LAC such as Columbia, Peru, Guatemala, Dominican Republic, Jamaica, Bahamas and the Caribbean.
The company has already received seven patent grants from countries such as Australia, USA, Japan, Canada, South Africa, New Zealand and Ukraine and grants from Europe, Brazil and India are awaited.